The Totnes Renewable Energy Society (TRESOC) is now accepting from individuals and businesses in Totnes and environs shareholding applications starting at £20. Shorter than the previous share issue in 2010, this application period will run for two weeks only, expiring on Monday September 19.
TRESOC has sent out 11,096 leaflets to very household and business within the 15 parishes that define its membership catchment area to ensure that this opportunity is made available to everyone, irrespective of their economic circumstance or investment experience.
All TRESOC members, regardless of the size of their investment, have equal voting rights in determining how their local renewable energy resources are developed and managed.
TRESOC kicked off the 2011 Share Issue with a Share Energy launch party that took place on Sunday, September 4 at the Dart Totnes Amateur Rowing Club.
A wide cross-section of the community was represented, filling the room to capacity. Wine and local cheeses were free to all, and the ‘hot’ jazz guitar sound of Appel Direct created an upbeat atmosphere while attendees reviewed and discussed the Share Issue prospectus.
Ian Bright, managing director, spoke about the range of projects in the works, focusing particularly on the immediate opportunity offered by community-scale solar and anaerobic digestion power generation.
Adam Gainsford from South Western Solar Projects Ltd, TRESOC’s solar partner, answered questions relative to the installation already underway at Hatchlands Farm near Totnes.
TRESOC has signed an agreement to purchase this 30kWp solar array with an option to install a further 50kWp. It’s TRESOC’s solar development that’s causing excitement, and is driving this share offering. After allowing for replenishment of working capital, TRESOC members could expect to receive an annual interest award on their shares of between 3-5% from the end of 2012.
The event attracted existing shareholders and potential new members in equal measure. Two passionate renewable energy supporters, who regularly share their opinions in the local media, met in person for the first time. A grandmother was inspired to buy three shares, one for each of her grandchildren.
TRESOC’s Share Issue will run from September 5-19. The 2011 Prospectus & Application Form is available to download from www.tresoc.co.uk and can be picked up in Totnes from Richard Hoyland Opticians, Harlequin Books and the Transition Town Totnes office.