Update on renewable generation

Our renewable energy projects have generated 11,028MWh from 1st April 2020 to end of December 2020.

  • That’s 5% above target for the year to date.
  • Equivalent to the electrical demand from 4,743 homes during that period.
  • Meaning a carbon reduction of 2,792 Tonnes CO2e – equivalent to 147,637 journeys from Bath to Edinburgh via train.
  • Retaining £588,462 worth of income that would otherwise drain out of the local area.

Based on our performance to date we are confident of meeting or exceeding our performance targets by the end of this financial year.

For more information go the Renewable Energy page of our website.


Update on community investment

Our current community share offer has so far raised £693,150.

This is an open offer with shares allocated every two months. The next allocation date is 31st January so get in quick if you want to support community energy! If you miss it the next deadline is 31st March. And please persuade your friends to invest in BWCE.

The current share offer has a fixed target annual rate of return of 4%, depending on project performance.

For all our original shares taken out before February 2019 we agreed at the last AGM to set a formula for the target rate at Retail Price Index (RPI) plus 3.5%, again depending on project performance.

We take the same figure for RPI that is used by government to escalate the Feed in Tariff income for our renewable energy projects each year. This is the December figure for RPI, published by the Office of National Statistics. This year the figure for RPI in December was 1.2% and so the target rate for all pre-February 2019 shares will be 4.7% for the 2020-21 financial year.