helensburgh community development trust our future in our own hands ian fraser15 august 2014
TRANSCRIPT
![Page 1: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/1.jpg)
Helensburgh Community Development TrustOur future in our own hands
Ian Fraser 15 August 2014
![Page 2: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/2.jpg)
Wind power funds communities
Neilston – town regenerationGigha ‘Dancing Ladies’ -
encourage incoming businesses
Fintry – free insulation & woodfuel
Ardrishaig – swimming pool, pipe band, pensioners group
![Page 3: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/3.jpg)
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
![Page 4: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/4.jpg)
Three equal partners in a Joint Venture
Community support
Land
Expertise, Equity funding
Heads of Terms agreement signed August 2013
![Page 5: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/5.jpg)
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
![Page 6: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/6.jpg)
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
![Page 7: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/7.jpg)
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
![Page 8: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/8.jpg)
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
![Page 9: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/9.jpg)
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
![Page 10: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/10.jpg)
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
![Page 11: Helensburgh Community Development Trust Our future in our own hands Ian Fraser15 August 2014](https://reader035.vdocuments.us/reader035/viewer/2022081519/56649e3a5503460f94b2c5ac/html5/thumbnails/11.jpg)
HCDT consultations
Feedback
Consultation carried out through 2013• 11 exhibition events (Churchill, Pipe Band,
…• 4 talks (Probus, Grey matters..)• ~300 people took active interest
• 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’