EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (31/05/21
Engagement with SPR on NDA – NDA agreed for Lussa Community Wind Ltd (the Community Investment Vehicle). Awaiting signed copies of NDA back from SPR and release of the Termsheet.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (30/04/21
- Engagement with SPR on NDA – by month end, NDA agreed for SPR-EKREG
- Further preparation work for Ben Com Share offering – collecting quotes and timelines for producing a marketing video, pulling together and submitting a grant application for the video costs & further preparation of the website and pages.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (31/03/21)
- Further engagement with SPR on NDA.
- Further preparation work for Ben Com Share offering – collecting indicative costs and timelines, putting together the broad framework of a marketing campaign & preparing the website and pages.
- Approval from FCA on the BaT3 community benefit society – Registered with the FCA as Lussa Community Wind Limited, reg. No 8576.
- OSCR approval given for the 2 remaining anchor charities for Lussa CW Ltd – Campbeltown Community Windfarm Trust and West Kintyre Community Fund
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (28/02/21)
- Engagement with SPR – call with SPR & Abundance regards NDA and Termsheet. SPR agreed to arrange a meeting with their legal.
- Preparation work for Ben Com Share offering.
- Approval from LES to incorporate the Beinn an Tuirc 3 Community Benefit Society – done, awaiting decision from FCA.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (31/01/21)
- Engagement with SPR regards NDA and Termsheet. Holding pattern maintained by SPR. No change in their position that ‘timing for community investment won’t be an issue’.
- Engagement with Community Shares Scotland on process and details for a possible BenCom share under their auspices. Further engagement with Ethex over process of using the website to raise capital.
- Engagement with Tarbert & Skipness Community Trust (T&SCC’s delegated vehicle for all aspects of CSO & CBF). MoU signed with T&SCT for EKREG to act on T&S behalf in CSO matters. This means that EKREG now has a ‘fullhouse’ of Kintyre CC’s onboard and will launch “Kintyre Wind” – the community collaboration project for CSO in wind in Kintyre, with all the CSO BenComs being marketed etc through this project.
- Initial work-ups and discussion of BenCom Community Share Offer document.
- Confirmation from OSCR that the East Kintyre Community Fund is now registered as a Charity with them – this will be one of the 3 Anchor Members of the BenCom set-up for the SPR CSO.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (31/12/20)
- Engagement with SPR regards NDA and Termsheet. Holding email received – now have to wait until the NY
- Engagement with Ethex on process and details required for placing of a possible BenCom share offering on Ethex website.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (30/11/20)
- Engagement with SPR – SPR are looking to supply Termsheet in December.
- Update provided to the three Community Councils.
- Engagement with Abundance regards timing etc of CSO documents.
- Initial foundation work on possible BenCom share offering and where to place.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (31/10/20)
- Completion of the East Kintyre grant dispensing charity documentation, agreement over initial trustees and application to OSCR for approval.
- MCSOREP Benn Comm model rules marketed via website, local paper and LES newsletter.
- Discussion with LES over Community requirements vs need for level of FCA certification in Financial advisor to Community.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (30/09/20)
- Engagement with the three Community Councils over the template set of documented control processes for the Grant-making Charity needed by each Community Council as Anchor members in the BaT3 Ben Com. Initial structural work on East Kintyre website for access to EK grant forms etc completed. Permission sought and granted from FCA and Companies House for East Kintyre’s charity name.
- Engagement with SPR – gave detailed feedback on 1st pass SPR supplied NDA
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (31/08/20)
- Work on Guide to the new Multi-Community Ben Com model rules and sponsoring process (for use by other communities) has been completed.
- A template set of documented control processes for the Grant-making Charity needed by each Community Council as Anchor members in the BaT3 Ben Com has been drafted and sent to the 3 community councils - a constitution, a code of conduct, a delegation of powers process, a conflict of interest process as well as a grant-making policy. These will be needed in the OSCR registration process.
- Engagement with SPR – confirmation that BaT3 CSO termsheet will be presented ‘late Autumn’ .
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (31/07/20)
- After further discussions with the FCA, they confirmed REGISTRATION of new model rules for Multi-Community Shared Ownership in Renewable Energy Projects with EKREG Ltd as sponsoring body.
- EKREG working on Guide to the new model rules and sponsoring process (for use by other communities).
- Discussions with various parties on PWLB Loans for CSO. Requests for Scottish Government Guidelines/advise to Local Authorities have now been submitted into the Scottish Government – at Minister & Cabinet Secretary level.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (30/06/20)
- EKREG's tender process for the BaT3 Legal and Financial Advisers has been put on hold until a Term Sheet is provided by SPR. This will allow a more focussed tendering process and also the new timelines in light of any Covid-19 impact on construction timelines once known.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (31/05/20)
EKREG Ltd sent out Invitations to Tender on 15 May 2020 for the provision of financial and legal assistance to support the potential community investment in the Beinn an Tuirc 3 windfarm development. The experienced independent advisors will advise the community on all financial and legal aspects associated with the investment, from the incorporation and setting-up of the correct community vehicle, assessing the investment proposition through to finalisation of the funding packages.
EKREG CARES Enablement Grant (BaT3 CSO) Monthly Report (30/04/20)
- EKREG Ltd have signed MoU with the CSO invited Community Councils (EKCC, WKCC, CCC) to act on their behalf in the CSO offer
- Initial Outline Community Share Ownership Offer received from Scottish Power Renewables
- EKREG Ltd have registered new Community Benefit Society Model Rules with FCA
Local Energy Scotland- Enablement Grant (BaT3 CSO) Success (14/04/20)
EKREG Ltd are pleased to announce they have been successful in their application for a Scottish Government Community & Renewable Energy Scheme (CARES) Enablement grant of £25,000. This funding will be used towards the costs for financial and legal advisors that the Community will need along with any set-up costs for the Community Investment Vehicle, should the Shared Ownership in Beinn an Tuirc 3 Term Offer from SPR be financially attractive to the Community.
Beinn an Tuirc 3 Teleconference with Scottish Power Renewables (SPR) (18/03/20)
Due to the developing Covid 19 crisis, EKREG along with representative from East/West Kintyre, Campbeltown and Arran Community Councils had to move to a teleconference with Scottish Power Renewables (SPR) and their financial advisors to discuss both community benefits and community investment in Beinn an Tuirc 3 Windfarm (now under construction). It was agreed that EKREG will be the engagement vehicle for SPR until such time as the community investment vehicle is established. If successful, this could be the first multi-community investment in a non-subsidy windfarm in Scotland
EKREG Meeting with Community Councils and Development Trusts (23/1/20)
EKREG held a very successful and constructive meeting with representatives from East Kintyre, West Kintyre, and Campbeltown Community Councils, as well as South Kintyre Development Trust, Carradale Community Trust and Machrihanish Airbase Community Company to update the communities on the work EKREG has been undertaking over the last 5 months and how we might best progress CSO. The presentation provided clarification on current discussions and the future pathway. Briefing Note
EKREG Ltd to lead Shared Ownership negotiations on behalf of local communities (11/12/19)
Agreements are now in place for EKREG Ltd to take the lead and explore community shared ownership opportunities in new/repowered local wind farm developments on behalf of East Kintyre Community Council (EKCC), West Kintyre Community Council (WKCC), Campbeltown Community Council (CCC) and South Kintyre Development Trust (SKDT).
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