The Co-op was formed as a result of a decision made by a local community association, Community Energy for Goulburn Inc (CE4G). CE4G has been the driving force to build the community owned solar farm in Goulburn since late 2014. The Cooperative grew out of research conducted by CE4G to find a suitable financial and governance entity that would best suit the ownership and operation of the solar farm.
The committee looked at different investment structures and decided that a co-operative (“the Co-op”) was the most democratic form of ownership because each vote does not depend on the number of shares held. Whether an investor holds 400 or 4000 shares, he or she still only has one vote. No-one can use their voting power to support a vested interest.
So the Co-op was established mid-2020 through registration via the NSW Department of Fair Trading after extensive advice from legal, accounting and governance advisers.
What’s the relationship between CE4G and the Co-op?
CE4G will continue as an incorporated association and will be developing further renewable projects. The Co-op has been formed specifically to own and run the Goulburn solar farm.
CE4G is administered by a committee elected by members of CE4G, and the Co-op is run by a board elected by members of the Co-op. Membership of CE4G is open to anyone via the CE4G website.
The Co-op is run by a board elected by the members at a General Meeting (normally annually), each member has one vote irrespective how many shares they own. As at October 2020 there is an interim board consisting of some of the members of CE4G Inc. This board will call for a General Meeting in order to elect a full board within the next six months. More information on the rules of the Co-op and other information can be found on the Financials page.
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Supported by a grant from the NSW Government
A member of the Cooperative Federation
An initiative of The Goulburn Group (TGG)
A project of Community Energy for Goulburn