A Community Benefit Society

Yealm Community Energy Ltd (YCE) is a Community Benefit Society, set up in order to provide improved energy services to the residents of the parishes bordering the Yealm estuary – Newton Ferrers and Noss Mayo, Holbeton, Yealmpton, Brixton and Wembury.  Households in the area have been spending around £7 million per year to outside suppliers for electricity and gas, representing about 5% of earned income.  This money leaves the local economy, and benefits large energy companies.. There is considerable scope to reduce this financial outflow and to retain economic benefits within the community.

The Rules of the Society can be found here

Board members profiles can be found here

We are aiming to create renewable energy and energy-saving projects – see here for latest projects.

YCE’s aims are to:

  • Enable the local and wider community to share in the ownership of local and renewable low carbon electricity/heat generation projects;
  • Generate funds for community renewable and low carbon energy generation and energy efficiency initiatives in the local community;
  • Provide funding for further community renewable and low carbon energy initiatives in the Local Community;
  • Support educational and other community activities which promote awareness of energy and environmental related issues.
  • Support projects that will improve environmental sustainability in the local community.

YCE was awarded a grant from the REGEN SW/Devon County Council Devon Community Energy Accelerator Project to set up the Community Benefit Society and to get to the stage of applying for pre-project funding from the RCEF for specific projects.  We are currently negotiating to purchase the newly constructed solar farm at Newton Downs – see picture above.

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Regen-community-supportEsmee Fairburn_logo_4col (1)Devon County Council

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2 thoughts on “A Community Benefit Society

  1. Dr JMMorsman

    Is Thera a facility for local residents to invest in this project & benefit from any dividends that might be available if this project is successfully managed?

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    1. yealmcommunityenergy Post author

      We are nearing agreement with Good Energy to purchase the site at Newton Downs, which is currently nearing completion, to be commissioned in January. Once we have agreement to purchase we will be raising a mix of bank debt finance and offering shares to prospective investors, hopefully in the first couple of months of 2017.

      Update 8 May 2017. Our offer has been rejected by Good Energy as being below what they claim others have offered. An independent valuation has been undertaken and we are waiting for the results.

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