In February 2009 Sustainable Hockerton Limited was established as an Industrial and Provident Society for the benefit of the community. It was born out of a relatively informal village meeting, where residents determined they wanted their community to be more ‘sustainable’.
A more formal approach had to be taken once they determined the way to become more sustainable was firstly to develop an income stream, and determined that would be most cost-effective through investment in a community-owned wind turbine.
The full story can be found in our Story so far. In summary, the launch of SHOCK’s invitation to invest in 2009 led to an investment of £230,000 from 75 members, with 60% of funding from within the area, delivering the funds necessary to install the wind turbine.
Since the commissioning of the wind turbine in 2010, Sustainable Hockerton has paid 5-8% interest on its member’s investments. Variance has been due to things like:
- Repair and maintenance costs, caused by a mix of the wind turbine’s age and problems with the grid connection
- Average yearly wind speed has differed by 23% or more.
Coming on the horizon is the end of the feed in tariff for the three systems that receive this. The turbines FiT ends in October 2029 and the two PV systems FiT ends in 2035. The loss of the FiT will significantly reduce our income and we will then rely on income generated from electricity sales. This means after 2029 we may reduce the interest payments made and benefits to the village. The directors will assess all options at the time.
To counter these risks, the Society has invested in more renewable production and is looking for more to invest in. In addition to the turbine we currently have 4 PV systems (2025) with another in planning permission. These were funded through revenue from the wind turbine and loans from some of the original investors. These loans are all paid off.
Further investment in renewables is being sort to increase our income stream and reduce the carbon emitted into the atmosphere.
Typically investment of surplus is made to reduce energy consumption in the area and fund other sustainable measures.
If you are interested in hearing about becoming a member please contact us. Note that shares are currently only made available when a current member seeks to transfer their shares, and local residents will be prioritised for membership. The shares are transferable not withdrawable.
We occasionally share other opportunities via our social media feeds etc.