Avalon Community Energy announce Pioneer Share Offer!
A unique opportunity has arisen for residents of the Mid-Somerset area to invest in a local community energy company. Avalon Community Energy are launching their Pioneer Share Offer on July 10th at an event at Glastonbury Town Hall. Starting at 17.30, the event is chaired by Glastonbury Deputy Mayor, Jon Cousins, and also features our Green MEP, Molly Scott Cato, who will be presenting on a new report from the Resilience Centre on the energy future of the South West (for more info on that part of the event, visit HERE)
Avalon Community Energy, known as ACE, are the local energy co-operative for Glastonbury, Street, Shepton Mallet and Wells. Set up as a Community Benefit Society, ACE aims to bring community-owned renewable energy to Avalon whilst generating money for the local area to address issues such as fuel poverty. After a busy six months in which ACE undertook an in-depth feasibility study and carried out a programme of community engagement supported by funding from the Rural Community Energy Fund, they are now almost ready to begin their first installations of solar panels on rooftops across the region.
To facilitate this next stage, ACE are launching their Pioneer Share Offer on July 10th in a joint event with The Resilience Centre and the Green Party in the European Parliament. There will be a panel discussion that follows the launch focusing on a new report looking at how to meet the region’s energy needs through renewable energy generation.
The Pioneer Share Offer is being supported by Somerset Cooperative Services and offers investors an exciting opportunity to support the growth of community-owned renewable energy in Somerset whilst also offering generous 50% tax reliefs via the Seed Enterprise Investment Scheme as well as interest on investments.
Maddy Milnes, ACE company secretary said, “We’re thrilled to be moving into this new phase for Avalon Community Energy. This Pioneer Share Offer will allow us to raise the funds to establish our first solar installations, grow our community business and pay for important development, technical and project management costs.”
The Avalon Community Energy share offer follows on from recent successful community energy offers in Frome, where FREco (Frome Renewable Energy Company) raised £275,000 in a week, and Bath and West Community Energy’s multi-million pound community-funded solar schemes.
“We’re putting the call out to the community to get involved and invest in a resilient energy future for Mid-Somerset. With this in mind, local residents can invest as little as £50 and will get priority over non-residents should we be oversubscribed as appears likely. Its great to be launching this offer at this public meeting already discussing such an important local topic.” Said Maddy Milnes.
For those who miss the share launch on July 10th, the share offer document will be available via the ACE website www.avaloncommunityenergycoop.co.uk or at any event where the team are present.