Join Us and Help Fight Climate Change
Predicted 4% return on investment
Our share offer will open on 21 September 2020 and close on 21 December 2020 and you can buy as few as 100 and as many as 50,000 £1 shares. We are projecting that the shares will earn interest that will average out at an overall rate of 4% (as measured by IRR).
We have set no minimum target to reach. We would like to attain a target of at least 300,000 shares and the maximum raise would be £1.4M which would entirely eliminate our loan, but we are not expecting to reach this amount.
The primary incentive for most of the individuals involved in this project has been to help address climate change. This turbine will generate electricity without creating carbon dioxide, and will displace fossil fuelled generators from the system. There will have been CO2 produced during the manufacturer and installation of the turbine, but many studies have been carried out to determine what the carbon pay-back period is for a wind turbine and the consensus is that this is typically around 7 – 9 months.
This turbine will prevent many tonnes of CO2 from entering the atmosphere during its lifetime by displacing fossil-fueled generation. The conventional way of approximating this is to assume that the generation our turbine displaces has a carbon footprint equal to the current average carbon footprint of grid electricity. The most recent carbon footprint of grid electricity published by BEIS (published June 2020) is 0.23314 Kg CO2 /kWh. Using this figure and our predicted central yield of 2,530 MWh would suggest a carbon saving of 11,800 tonnes across 20 years. In reality, the figure will be far higher than this because the generation plant our turbine will displace will for the majority of the time be fossil-fueled generation (gas or coal) which has a far higher carbon footprint than the BEIS grid average figure which includes carbon-free generation such as existing solar PV, wind turbines, hydro and nuclear generation.
If we achieve our central target on yield, there
should also be surplus that can be used to establish
a community fund. The amount will strongly
depend in performance, but the society will consult with members and with the local community to determine how this should be spent, with the overall intention to benefit communities in the South-East of Pembrokeshire. We are gifting £3000 for community benefit as a goodwill gesture during our first year of operation between the following:
In addition, we have tried where possible to use local contractors, and the turbine is providing some supplementary income to two local farms.
Buy Shares and Become a Member
Each person or organisation issued with Shares becomes a member of the society, with membership rights defined in the rules. The principal rights are:
Each member has one vote, regardless of the number of Shares held.
As a member, eligibility for election to the board (once the member reaches the age of 18)
Buying Shares for Children
You may name one or more children to whom you would like some of your shares to pass when they reach the age of membership. RPP agrees to withdraw shares from your share account and to issue new shares to the child on their 16th birthday.
When this birthday is reached, you will receive a new share certificate in the name of the child and the child would become a member. The child would have to affirm that they wish to become a member of the society at that point.
Please note this is an administrative arrangement and not a legally binding nomination and you may revoke it at any time.
The child does not have to be a relative of the member. For each child please indicate name, date of birth and number of shares when filling in the application form.