The Share Offer was successfully launched at Powering up the North. Around twenty people attended the launch after a busy day of workshops and presentations on how community energy works and how it has been used across the Manchester region and further afield.
Attendees were told that feasibility studies by two separate hydropower specialists have confirmed that the project is viable. Now £40,000 is needed from the Community Share Offer to pay for the cost of planning permission and Environment Agency Licences.
Bury Community Hydro is open to anyone to join from £100 and all subscribers become equal members of the Society. Subscribers can take advantage of SEIS tax relief with 50% of the amount they invested reclaimable against tax.
The launch was supported by, Leila Sharland, Sharenergy. She said –
“A lot of successful community energy projects have benefitted from generous SEIS tax relief to raise funds at the planning stage. Unfortunately this will shortly be withdrawn for community energy projects – so this is a last chance for locals to support their local hydro project with minimum financial risk”