DON’T MISS OUT!
Llangattock Green Valleys Micro Hydro (2)
Co-operative Ltd Share Offer
Projected return: 5%
7.7% with EIS
AN EXCITING OPPORTUNITY
You are invited to become a Member of Llangattock Green
Valleys Micro Hydro (2) Co-operative Ltd, an innovative
renewable energy co-operative that’s been set up to build and run four high-head community micro hydro schemes in the
Brecon Beacons National Park.
The Co-operative aims to:
- Raise £690,000 to fund the development and
construction costs of the four schemes.
- Use these schemes to produce an estimated 355MWh of renewable electricity a year, reducing the community’s reliance on fossil fuels and saving 158 tonnes of CO2 a year.
- Use the income from the Feed-in Tariff and sale of electricity to cover the running costs of the schemes, pay back Members’ share capital over the 20-year life of the project and provide a surplus, which will be divided equally to…
- Pay Members interest on their Shares, with a projected return of 5% per annum, averaged over 20 years.
- Provide income for a special Community Fund that will be used to support further sustainable projects in Llangattock and the surrounding area.
[sections] [section title=”Key benefits“]
By subscribing to this Share Offer you will:
• Support the development of local renewable energy from sustainable sources.
• Help reduce the area’s reliance on fossil fuels, contributing directly to Wales’s transition to a
• Receive a projected return of 5% per annum, averaged
over 20 years (subject to the schemes generating sufficient profit).
[section title=”Tax relief“]
The Co-operative has received advance assurance from HMRC that the Share Offer qualifies in principle for Enterprise Investment Scheme (EIS) tax relief. This allows Members who are also qualifying UK tax payers to claim tax relief of up to 30% of the value of their subscription in the first year of trading, providing they pay at least as much tax as they are claiming in relief and hold their shares for at least three years.
With full EIS tax relief, the effective rate of return for Members is projected to be 7.7%.
[section title=”Where we are at“]
The four streams chosen for this project are Gargwy Fach and Nant y Gadair in the Grwyne Fechan valley, and Nant yr Hafod and Blaen Dyar, above the Clydach Gorge.
Full feasibility studies have already been completed and show the schemes are viable. We’ve also secured option agreements with the landowners for the Gargwy Fach and Nant y Gadair schemes, and we’re currently finalising agreements for the other two schemes.
Please note, the Co-operative will only adopt the schemes once all the necessary planning and permitting consents are granted.
[section title=”How to apply for shares“]
The Share Offer is open until 30 April 2014*. Shares cost £1 each, and you can apply for any number, from a minimum of 250 to a maximum of 20,000.
In the event that the Share Offer is oversubscribed, Shares will be allocated strictly on a first-come, first-served basis.
For full details, come to one of our evening presentations (see right), or pop along to one of our weekly drop-in sessions, every Friday from 10am-1pm at the Crickhowell Resource & Information Centre, Beaufort Street NP8 1BN.
Please read the full Share Offer Document before deciding whether to apply. You should consider taking appropriate financial or other advice if any aspect of the scheme is not clear to you.
* The Directors reserve the right to extend the deadline.
[section title=”Download the Rules“]
Click here to download the Rules.