Drumlin Wind Energy Co-operative
Energy4All has developed a new co-operative Drumlin Co-op, to construct, own and operate 250 kw turbines on four separate sites in Northern Ireland.
Drumlin is governed by its rules and the co-op is currently run by a founding board. In the summer of 2012 the co-op, supported by Energy4All raised the necessary finance by enabling members of the Northern Irish public and beyond to become members of the co-op by purchasing shares.
The co-op will construct the turbines with assistance from Energy4All and NRG Solutions. When operational all the electricity generated will be sold to the electricity markets and the co-op will receive an operating income. After payment of the operating costs, the surplus profits will be available to distribute as a share interest payment to members. There will also be a Community Fund of £2,000 per site available to support local community initiatives around each site.
The Co-op will repay members capital over 21 years starting in year 4.
Throughout its life, the co-op will be supported by Energy4All, which will supply a comprehensive package of management services, including accountancy, share register management and general administration.
Each year the co-op will hold an Annual General Meeting – to which all members will be invited, and where the activities of the co-op and the performance of the wind farm will be discussed.
To visit the Drumlin website please click here.