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Helensburgh Community Development Trust Our future in our own hands

Helensburgh Community Development Trust Our future in our own hands. Ian Fraser 15 August 2014. Wind power funds communities. Neilston – town regeneration. Gigha ‘Dancing Ladies’ - encourage incoming businesses. Ardrishaig – swimming pool, pipe band, pensioners group.

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Helensburgh Community Development Trust Our future in our own hands

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  1. Helensburgh Community Development TrustOur future in our own hands Ian Fraser 15 August 2014

  2. Wind power funds communities Neilston– town regeneration Gigha ‘Dancing Ladies’ - encourage incoming businesses Ardrishaig – swimming pool, pipe band, pensioners group Fintry – free insulation & woodfuel

  3. Argyll and Bute - A Good Place to Live, Work, and Play? Feedback from A&BC Community Planning Partnership consultations 2013: Helensburgh & Lomond area concerns: • facilities for young people in 13-18 age group • enabling and supporting businesses (especially start-ups) • better quality and affordable housing • more and better family leisure and entertainment facilities • difficulties accessing further and higher education • lack of local accident and emergency service • seafront car park area needing redevelopment

  4. Three equal partners in a Joint Venture Community support Expertise, Equity funding Land Heads of Terms agreement signed August 2013

  5. Structuring the community’s share Helensburgh Community Development Trust • common good fund • registered charity since 2011 • membership free to all residents of Helensburgh, Rhu & Shandon • trustees elected by members OWNS: Helensburgh Renewables • social enterprise company • directors appointed by HCDT • all income gift aided to HCDT IS A PARTNER IN: Helensburgh Community Wind Farm • 3-way joint venture • directors appointed by each partner

  6. Technical details 5 x 800 kW turbines Enercon E53 • 86m ground to tip height • high reliability since 2006 • Class III - suits lower wind speeds • gearbox-less design Manufacturer servicing • 97% warranted availability • warranty for 15 years Connects to grid at Woodend • 1.2 km from nearest house

  7. The right turbine for the location World’s 4th largest wind turbine manufacturer • Family firm now owned by a foundation • 30 years in the business • Market leader in Germany since 1990s 22,000 turbines installed worldwide • Average availability 98.5%+ • ‘EPK’ service contract for inspection, maintenance and repair • 15 year warranty Good track record as deployed by Green Cat • Depends on selecting the correct turbine for the site

  8. Financial overview Capital cost estimate £6.7 million • largely loan funded – no public money involved Each partner takes one-third of profits • HR receives a minimum of £40,000 even in poor wind years HR expected average income • Years 1-5: £80-90,000 per year • Years 6-10: £100-110,000 per year • Years 11-15: £170-190,000 per year • Years 16-20: £400-450,000 per year

  9. Revenues – key figures Re-estimated in light of Cove wind speed data • conservative estimate of 6.7 m/s average wind speed • leads to a turbine capacity factor of 32% Performance of other Green Cat wind farms with similar turbines • House o’Hill: 37% capacity factor over 4 years • Arkhill: 38% capacity factor in first year Sold via a 3-year rolling Purchase Price Agreement • Selling price based on indicative PPA offer

  10. Costs– key figures Over 80% of annual costs are for financing capital expenditure • capital costs well defined by design studies and quotes Financing plan revised following Co-op Bank withdrawal • new specialist lenders in market: Close Bros, Santander • 15 year loan for 80% – indicative offer received • 12 year secondary loan for 16% of capital expenditure • remaining 4% is funded by the developer up front Operating costs include 15 year manufacturer’s maintenance warranty Reimbursements to partners after commissioning: • HR - £40,000 a year community benefit • Green Cat - annual fee for running operation • Luss – annual rent

  11. HCDT consultations Consultation carried out through 2013 • 11 exhibition events (Churchill, Pipe Band,… • 4 talks (Probus, Grey matters..) • ~300 people took active interest Feedback • 66 feedback forms returned • 64% supportive or very supportive • small number very opposed, but very vocal • most frequent response: ‘ I can’t see what the big fuss is about’

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