For this project, a majority of the Cooperative is owned by community investors, who have the controlling input into how it is managed, and then share in its profits.
“Community” includes local residents, community organisations and entities such as schools, the local council and businesses, located within the Goulburn Mulwaree local government area (LGA). The Co-op encourages participation from others outside the LGA after first offering investment opportunities to the people of Goulburn.
After lengthy research, CE4G, the original community association that has taken the project to this stage, has decided on a Cooperative structure. This structure allows the community to own shares in the project and for rules to be developed that maintain a local community focus.
The Co-op rules stipulate a minimum 51% community ownership. Large, corporate interests are not allowed to hold the majority position of more than 20% of the issued capital, thereby keeping community interests at the centre of decision-making. Each member has only one vote, no matter what how many shares they hold.
This is yet to be determined, depending on the business case. Initially the energy will be sold through the grid on the open market which changes in price levels every half an hour. The alternative options are a PPA (Power Purchase Agreement) with a large user, or to a retailer who will on-sell to residents.
Yes, depending on what decision is made (see #5 above).
Yes. Investment is open to all members of the Goulburn LGA and others from outside the LGA once priority is given to locals.
Investment is through the Application Form attached to the Disclosure Statement that is available HERE.
While we cannot promise a rate of return, we are confident a commercial return on investment is probable. Community owned renewable energy projects in Europe and the USA produce a healthy rate of return, well above bank rates. Please read our disclaimer HERE.
The minimum investment level is four hundred shares at $1 each share. This is in addition to a membership fee of $10 plus an annual fee of $10. There is a maximum investment level of 20%.
Plans are nearing completion for the design of the project. There may be a delay with Essential Energy approving the project but we expect to commence construction in early 2021. Once construction commences it is expected to take approximately 6 months to build the solar farm.
Goulburn Community Solar Farm is the flag ship project of CE4G. Discussions for a stage two for this project have commenced. CE4G is open to ideas for other large and small scale community energy projects supported by the Goulburn district community.
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