Finance

Capital Investment
Saddleworth Community Hydro Ltd  was awarded a grant of £223,000 from Defra under the Rural Carbon Challenge Fund and part financed by The European Agricultural Fund for Rural Development.
£229,000 was raised in shares. The community share offer was coordinated by PR and fundraising specialist Clare Walker of C J Communications and attracted shareholders from all over the UK. For further information contact: claremwalker@hotmail.co.uk or  phone 07595 873221.
The constitution of the Community Benefit Society states that no shareholder may hold more than £20,000 in shares. All shareholders have an equal vote.
Share holders include individuals, both local and from further afield, voluntary organisations, businesses, Oldham Council and Saddleworth Parish Council. Approximately 1/3 of shareholders are from outside the local area.
Key Fund provided a bridging loan during the construction period.
Short term loans from individuals were needed to cover unanticipated commissioning costs. All paid back by July 2018

Income
We sell to the national grid via an aggregator.
A premium rate is received because the power is generated 24 hours a day, 7 days a week: it is not dependent on the vagaries of the weather except in a case of extreme drought.
In addition we are eligible for Renewables Obligation Certificate (ROCs) 
We do not get Feed In Tariff payments because we received a grant from Defra.





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