June 2018 Newsletter
Newton Downs – Now we are underway!
We have held successful negotiations with the new owners of Newton Downs solar farm and have signed an agreement with them – Community Owned Renewable Energy LLP, to purchase a share in Newton Downs with the intention of completing the total purchase within 3 years. We will be making a share offer in the next 12 months.
See our new website www.yealmenergy.co.uk
We would invite you to share the link with others who might be interested. We need to increase our membership and supporters in anticipation of the share offer. New members or supporters can sign up online to be kept informed.
The Community Fund is now open for Applications for projects in the Yealm area – the parishes of Newton Ferrers and Noss Mayo, Yealmpton, Brixton, Holbeton and Wembury. There will be approximately £20,000 available for the coming year.
Choosing the best energy tariff
We have partnered with our neighbouring community energy society, South Dartmoor Community Energy, to support those who could save money by switching supplier. If you haven’t changed your energy supplier(s) for a few years then it could really be worth checking that you’re on the best tariff.
South Dartmoor Community Energy, offers a free and impartial energy advice service for residents in the South Hams and are happy to help you to check you’re on the best tariff and to shop around for a better one if needs be. They can offer this advice over the phone (0800 112 3044), via e-mail (firstname.lastname@example.org) or via home visits. To get the best advice it’s helpful to have a recent energy bill to hand so that you can see the name of your current tariff and your annual usage figures.
Jan 3 2018
Newton Downs solar farm is coming into community ownership
CORE (Community Owned Renewable Energy) has bought the Newton Downs solar farm from Good Energy in partnership with Yealm Community Energy (YCE).
CORE is a £40 million community energy fund that acquires solar farms on behalf of the local community, and then facilitates their transfer into community ownership. CORE has been working with YCE over the last few months to help bring Newton Downs into community ownership.
CORE invested £5.83 million to fund the purchase. YCE now has three years to raise the ‘equity’ capital and debt finance to take the solar farm into total community ownership from a community investment offer. CORE will be helping to raise the long-term loan finance, and will be implementing a range of improvements to Newton Downs in order to optimise the environmental and financial benefits.
Newton Downs solar farm is expected to generate £20,000 a year of income for a community fund from the outset, and over £1 million over its 30-year life.
The YCE AGM will take place on Saturday February 3rd, at 10:00 am, in the WI Hall on the Green in Newton Ferrers. Everyone interested in supporting this initiative is welcome.
Creacombe solar farm
The landowner, Gnaton Farms has made a planning application for a 7.3 MW solar farm, with negligible visual impact, on the borders of Holbeton, Yealmpton and Newton Ferrers/Noss Mayo. They wish to offer it to the local community to purchase, and would give Yealm Community Energy preference to do that. We are in discussions with them on agreeing the basis on which we could purchase it. Note that there will be no subsidies available, so it will be a pioneering subsidy-free project, but that makes the financial viability more challenging.