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Thank you for your interest and support in this community project and the Alvington Turbine Community Resilience Fund. The society has set up this web page to ensure that the most current information is accessible to both society members and others within the local community to ensure consistency in both the information released and the timing of updates.

PROJECT OUTLINE

The 500KW Community Wind Turbine at Alvington is owned and operated by Resilient Energy Alvington Court Renewables (REACR), a Community Benefit Society registered with the Financial Conduct Authority.

The turbine was installed on 24th November 2015 with commissioning completed in early January 2016. The turbine is generating clean, green electricity in line with expectations and is well placed to deliver against the society’s social aims over the turbine’s operational lifetime. These include the Alvington Turbine Community Resilience Fund which provides grants to help address current needs and future challenges in the host community of Alvington, Aylburton and environs. Go to the June Update for more details of the fund and a link to the Application Form. Check out the September Update for details of the latest grant recipients.

The society is committed to making a positive difference locally in addition to the environmental benefits directly associated with the generation of renewable energy.

OPPORTUNITY TO BUY SHARES IN THE ALVINGTON TURBINE PROJECT

Resilient Energy Alvington Court Renewables has launched a new Share Offer to give those who missed out on the opportunity to invest in this community project at the construction stage a further chance to get involved. All new REACR shares issued are expected to attract members interest at an average annual rate of 6% (set at 0.75 of the 8% average annual rate that pre-construction investments are expected to receive, reflecting the lower risk associated with an operational wind turbine project). As with previous REACR Share Offers, this Offer is being administered by ethical investment platform Ethex – Full details and access to the Share Offer document (with Application Form) at www.ethex.org.uk/REACR2017. Or by clicking on the image.

Click to apply
Click to apply

For people living within the Forest of Dean area, Share subscriptions start from a minimum of £50 as the society wants as many local people as possible to have the opportunity to become involved if they wish. Supporters of the project from further afield are not excluded, but will be required to invest a minimum of £250 in shares. The maximum permitted individual investment in this share offer is £100,000. The society is operated democratically – one member one vote – regardless of investment made.

The funds raised through this Share Offer will be used to refinance an existing construction stage loan set at 9% per annum; a loan which the society has been tied in to until recently. The issuing of new community shares will directly reduce operational costs for the society, increasing the society’s predicted surplus income, all of which must be allocated for community benefits as specified in the Society’s rules.

REACR is already awarding grants from its Alvington Turbine Community Resilience Fund (based on 4% of turnover) – see details of the latest allocations in the Spring 2018 update. Society surplus will be an additional source of funding for community benefits in the broader Forest of Dean area, with a focus on the GL15 postcode area.

Updates

Turbine Performance

The Alvington Community Turbine has been operating well and electricity generation for the year to end of January was 1,059,805kWh.

Community Resilience Fund Activity

REACR’s Community Resilience Fund made its second grant allocations in February at the recommendation of the society’s appointed Advisory Panel. The allocation of funding in this round was as follows:

  • Alvington Parish Council – £5000 towards phase 1 of a proposal for a new multi-purpose community hall and sports facility at Alvington Recreation Ground.The Advisory Panel believes that the planned project will provide a focus for community cohesion and a most useful community asset once built. The funding will support aspects such as conceptual drawings and public exhibitions/community engagement/option plans which in turn will be used to support further grant applications to third party organisations. 
  • Aylburton Parish Council- £2,410 towards speed calming measures on the A48 through the village.The panel recognised that speed of traffic through the village was a major community concern but has requested more information on the following aspects prior to the funds being approved for release:
    • Summary evaluation of speed calming options considered. 
    • Summary of any other grant funding that has been/could be applied for.
    • Details of the findings of traffic surveys carried out in Aylburton.

Deadline for Applications

The next deadline for receipt of applications to the Alvington Turbine Community Resilience is 31st July 2018 and six monthly thereafter. Details of Fund Criteria and Application Form are accessible via links on the menu tabs. 

Update on Current REACR Share Offer

The current Share Offer (which seeks to refinance the society’s £600,000 pre-construction loan), has raised around 62% of the target to date. Share subscriptions have continued at a steady rate and the REACR board has, therefore, extended the offer giving more people the opportunity to get involved.

Shares from the current offer are expected to attract member’s interest at an average annual rate of 6% (75% of the rate of members interest which REACR preconstruction stage shares are expected to attract, reflecting the lower risk of an operational project). Please feel free to promote the opportunity within your networks using the following link to full details of the Share Offer and an application form www.ethex.org.uk/REACR2017. The minimum investment is £250 (or £50 for those who are residents of the Forest of Dean area). 

Ethex is a positive investment platform which provides services to projects designed to deliver social as well as financial returns. It is administering the share offer for the society.