Those of you who attended the Special General Meeting on July 5th, or who read the Interim Directors Report will be aware of encouraging growth in the TRESOC renewable energy project portfolio since the previous Directors Report for the December AGM. In addition to the flagship Totnes Community Wind Farm; TRESOC is now actively engaged in the development of projects in anaerobic digestion and solar PV with a total estimated value of between £8-10m. We are also involved in preliminary discussions to add woodfuel district heating and hydro power to our active project list. Although the lead in times for wind and anaerobic digestion projects are i.r.o. 2-3 years, there are immediate opportunities for significant investments in solar PV installations in the current financial year that will yield a healthy rate of return on capital invested. The Special General Meeting gave the Board a chance to discuss these developments and to receive valuable feedback from the membership on how you would wish us to proceed in taking advantage of the opportunities now before us. Minutes of the SGM are now available on our website. The main message was that you would like us to extend the solar investment opportunity beyond the existing membership to all residents of Totnes and Environs. The Board has reviewed the options open to TRESOC to raise capital in accordance with our members wishes and has therefore decided to bring forward the date of the 2011 TRESOC Share Issue to run for 2 weeks from 5th September. The Prospectus is in preparation and will be released well ahead of the Share Issue, with a marketing campaign to attract as many new members as possible to join us aboard the good ship TRESOC! As a central part of this campaign we would like to ask YOU, our members - TRESOC’s greatest asset – to spread the message. So please do tell at least two of your friends about the new opportunity to invest in community owned renewable energy, with the potential for a modest but healthy return from solar investments in the coming financial year. Feel free to forward this email - Member News 5 - to your contacts, or direct them to our website where it can be found on the News Page, and we will be publishing further details soon. These are exciting times for TRESOC, our workload is increasing, and we are greatly encouraged by the offers of professional and practical assistance from our members in taking our projects forward. Rest assured that TRESOC will always approach our members first as need arises, in line with our objective to maximise the benefits to the local economy from the development of renewable energy resources under community ownership. Watch this space for further details and tell a friend or two!
Yours sincerely
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