Welsh micro hydro co-operative Llangattock Green Valleys has decided to extend its share offer until 3 June. The co-operative aims to raise £690,000 to build four micro hydro schemes in the Brecon Beacons National Park. The share offer is already 69% of the way there, with subscriptions totalling £476,000 as of today, 1 May.
The share offer has had a late surge of interest and we’re confident the co-operative will make the full total by the new deadline.
The share offer is based on a 50:50 split of profit between members and a special Community Fund, set up to support further sustainable projects. For members, this means a projected annual return of 5%, averaged over 20 years. The share offer has also received advance assurance from HMRC, which means that EIS tax relief should be available. Full EIS tax relief boosts the projected rate of return to 7.7%.
Meanwhile the micro hydros should generate some £550,000 of income for the Community Fund over the life of the schemes, giving this project the potential to make a really significant contribution to sustainability in Wales.
To find out more and download the Share Offer Document, go to llangattockgreenvalleys.org. You can also request a copy by post – email shareoffer@llangattockgreenvalleys.org or call free on 0800 206 1915.