And Now For A Small Ray Of Sunshine...New Cooperative Energy Concept Comes To NI
Drumlin Energy is a new concept to the local energy scene - a local energy cooperative with full planning permission to put up 5 small wind turbines. It is looking for investors – who may invest as little as £250 or as much as £20,000 – from anywhere in United Kingdom but preference will be given to investors from Northern Ireland as the motivation behind setting up the cooperative is to retain and circulate profits within Northern Ireland.
The scheme, while a modest contribution to decarbonizing the local energy sector does offer reasonable returns – averaging 7% per annum over the life time of the project based on stated assumptions about wind and electricity prices – and investors can set up to 30% of the investment against income tax (increasing average lifetime returns to just over 10%). As long term assumptions about future electricity price increases tend to be conservative it is potentially a good hedge against inflation. If we have to face ever higher electricity prices at least your income from this investment will be higher. So it might be worth reading the share offer document and considering investing either for the business or as an individual.
Secondly: even engaging slightly (but profitably!) in this little cooperative might provide us with some clues as to how we eventually might get a better handle on the ever rising energy costs which are making life so difficult for the business community because it doesn’t look as if our political masters are going to solve this problem for us. Learn more: www.drumlin.coop and download a prospectus. You can also find Drumlin on facebook and Twitter Douglas McIldoon