At the First Friday networking event in Petersfield on 6th March, Energise South Downs CEO Catriona Cockburn was invited to speak to local business owners.
Cat gave an introduction to community energy, and outlined ESD’s constitution and governance, stakeholders, and business model. She then introduced the share offer and detailed how it works, explaining that ESD raised £300,000 in 10 days, and that the investment process tried to ensure that as many people from the community as possible could invest, with a minimum investment of £50.
She talked about local impact, explaining that ESD has helped three organisations and 200 residents reduce their energy costs from day one of renewable generation, and that the community benefit fund set up as part of the project will support other local environmental and low carbon energy initiatives. Cat also clarified that by investing in the share offer, those investors became members of ESD and are now entitled to a vote at the AGM regarding decisions on how funds are used going forward – including the community benefit fund.
It was a vibrant lunchtime First Friday session, with 25 local businesses represented. There was an animated discussion following the presentation, with several questions asked, including how we calculated a 5.5% return on investment (this was worked out through financial modelling as part of our business plan for the share offer), and importantly, what role businesses have to play in community energy.
Cat explained that if you have a large business rooftop and are a high energy user, Energise South Downs is very keen to support you with solar installation. If you haven’t got a large rooftop but you are a high energy user, there are policy initiatives coming into play which would mean ESD could sell energy to you at a cheaper rate, through a virtual power purchase agreement.
Become a member (for just £1) and sign up to Energise South Downs’ newsletter to find out more about and stay up to date with community energy news and opportunities. You can also follow ESD on Instagram, Facebook and Linkedin. To reach out to us directly, please fill in our contact form.
