Thank you for your interest and support in this community project and your patience regarding the timescales for opening of the REMR 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 regarding the fund, and to ensure consistency in both the information released and the timing of updates.
The two 500kW Community Wind Turbines in Kingswood, Stroud are owned and operated by Resilient Energy Mounteneys Renewables (REMR), a Community Benefit Society registered with the Financial Conduct Authority.
The turbines were installed in March 2017 with commissioning completed April 2017. The turbines are generating clean, green electricity in line with expectations and are well placed to deliver against the society’s social aims over the turbine’s operational lifetime. These include establishing the REMR Community Resilience Fund to help address the current needs and future challenges in the host communities of Kingswood, Wickwar, Hillesley and their immediate environs.
The society is committed to making a positive difference locally in addition to the environmental benefits directly associated with the generation of renewable energy.
EXPECTED TIMESCALES FOR LAUNCH OF COMMUNITY RESILIENCE FUND
Before the REMR Community Resilience Fund can be launched, as with any similar community project, the society first needs to receive sufficient income to meet its initial start-up and ongoing operating costs. The society receives income from the sale of electricity generated (via a power purchase agreement with an electricity supply company), and from Feed in Tariff payments (linked to the amount of electricity generated) which will be paid for a 20 year period. There is a lag between when the electricity is generated and when these payments are received – due to third party processing schedules for payments and FiT claim procedures. The society currently expects that the REMR Community Resilience Fund will, therefore, be established in spring 2018, with the first round of grant applications to the fund likely to be scheduled for summer 2018.
We anticipate that this webpage will be updated in March 2018 with further details of the mechanism for the fund operation, including a call for applicants who wish to be considered for a voluntary position on the REMR Community Resilience Fund Advisory Panel which will assist the society in allocating the funds available at each funding round.
The average annual Community Resilience Fund available over the lifetime of the project is expected to be of the order of £32k/yr. The figure will, however, be less in the first three years of operation due to higher project outgoings during this period, including in relation to biodiversity monitoring commitments required by Stroud District Council.
In addition to the REMR Community Resilience Fund, the society anticipates generating a further surplus for the benefit of the community from around the sixth year of operation (exact value to be confirmed). The society intends that this separate community surplus will establish a REMR Community Energy Fund which will be used to support projects which tackle fuel poverty and/or seed fund other community energy projects in the Stroud District area. Further information will be provided ahead of the launch of this additional fund, the allocation of which will be decided on an annual basis by the members of the society against established criteria.