Skip to content

Data Protection Statement and Privacy Policy (GDRP)

May 24, 2018
by

CCDC DATA PROTECTION STATEMENT

Advertisements

Coigach Turbine Bond Offer 2018

May 14, 2018
by

IMG_3889

 

This week we are delighted that we have now raised over £560K for our bond offer to help us refinance our Coigach wind turbine! The offer period has been extended to 30th June to allow for further investment in order that we can reach our £1.75 million target.

 CIC in the City!

“Community energy is a great way of generating funds for the benefit of the local community.

We developed our wind turbine to provide an income for 20 years which will help to create a sustainable local economy, attract residents to Coigach and maintain the way of life.”

Iain Muir, Coigach Community CIC

 ©Barbara Evripidou/FirstAvenuePhotography.com

Iain Muir was invited to speak at Triodos’ Annual Meeting in the Mermaid Theatre London where he addressed over 700 Triodos customers and was met with an enthusiastic reception – a surprising number of whom had already heard of Achiltibuie. (And he obviously didn’t miss the opportunity to tell the interviewer about the fish he caught at the weekend…)

Full details of the bond offer are available online 

www.triodoscrowdfunding.co.uk/invest/coigach-community 

but if you prefer, we also have good old-fashioned paper versions of the application form etc so if you’re happier with a pen than a mouse, get in touch and we can post you one or hand it over. 

Coigach Community CIC is a community interest company that owns and operates a community turbine in Coigach. The company is wholly owned by volunteer-led local charity Coigach Community Development Company.  The Coigach wind turbine was developed not only to provide a source of renewable energy but also to secure a regular income for investing in projects to benefit the community.We are looking to raise £1.75 million through the issue of bonds in the company to refinance higher cost loans which were initially taken out to build the turbine.

KEY TERMS:

  • Target amount: £1,750,000
  • Term:  12 years –bonds are not listed on a recognised investment exchange to investors need to hold them for their full 12 year term
  • Repayment: The bonds are expected to be repaid in ten annual instalments from 2021 to 2030
  • Minimum investment:   £250
  • Interest:  5% gross per year, increasing in line with the annual retail price index each year
  • Risk Warning:  Investors should note that payment of interest and repayment are not guaranteed and are dependent on the continued success of Coigach Community CIC’s business model.

 

For further information please look at www.triodoscrowdfunding.co.uk/invest/coigach-community or email

crowdfunding@triodos.co.up or phone 0117 980 9593.    If you’d like a paper application form please contact Julia Campbell, Coigach Community Development Company 01854 622 379 or email info@coigachcommunity.org.uk

 

Investors should read the full offer document including the risks section before making a decision whether to invest.

 

This financial promotion has been issued and approved by the UK division of Triodos Bank NV (incorporated under the laws of the Netherlands and limited liability, registered in England and Wales with branch number BR3012. Authorised by the Dutch Central Bank and subject to limited regulation in the UK by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extend of our (Triodos) regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us (Triodos) on request. Registered Office: Triodos Bank, Deanery Road, Bristol, BS1 5AS. Vat reg no 793493383. Calls to and from Triodos Bank may be recorded for training and monitoring purposes.

“Community energy is a great way of generating funds for the benefit of the local community.

We developed our wind turbine to provide an income for 20 years which will help to create a sustainable local economy, attract residents to Coigach and maintain the way of life.”

Iain Muir, Coigach Community CIC

https://www.triodoscrowdfunding.co.uk/invest/coigach-community

 

 

Coigach Community CIC

Coigach Community CIC is a community interest company that owns and operates a community wind turbine in Coigach, a remote peninsula in the Northwest Highlands of Scotland. The company is wholly owned by local charity, Coigach Community Development Company.

The Coigach wind turbine was developed not only to provide a source of renewable energy, but also to ensure a stream of regular income to support the local community. The area faces a number of challenges common to remote communities, including a lack of affordable housing, decreasing levels of health provision, poor transport links and a fragile economy. Profits from the turbine will be used to fund projects which tackle some of these challenges.

It is intended that the funds will support projects which help to develop affordable housing, bring employment or work space into the area, develop transport links and amenities or conserve the natural area. The 500 kW turbine was constructed in 2017 and began generating electricity in March 2017.

The bond offer

The money raised through this bond offer will enable Coigach Community CIC to refinance higher cost loans which were initially taken out to build the turbine. The project has been fully accredited by the government’s Feed-in-Tariff scheme which guarantees a fixed price (rising with inflation each year) for the electricity generated by the Company for 20 years.

Throughout this period, the turbine is expected to generate 2,020 MWh of electricity a year and it is anticipated that around £4.4 million will be contributed to the community.

Before deciding to invest, you must read the bond offer document. The offer document can be downloaded at the bottom of this page.

IFISA eligible

Coigach Community CIC bonds are eligible to be held in a Triodos Innovative Finance ISA (IFISA). Individual Savings Accounts (ISAs) offer investors and savers a tax efficient way to save or invest. The IFISA is a type of ISA that allows you to include investments that have been made via crowdfunded offers and as with all ISAs, you receive interest tax-free.

To invest in Coigach Community CIC bonds through a Triodos IFISA, after reading the bond offer document, select the ‘Invest through IFISA’ option. This selection will open a current year IFISA.

Transferring an existing ISA

If you want to invest by transferring an existing ISA to a Triodos IFISA, you must first request the transfer. You can do this under ‘Account’ once you’ve become a registered user on the platform.

Learn more about the IFISA.

Key terms

Issuer

Coigach Community CIC

Target amount

£1,750,000

Social impact

An estimated £4.4 million will be donated to Coigach Community Development Company – a local charity – over 20 years to support a range of community projects in Coigach.

Term

12 years, full capital repayment is forecast by 31 March 2030 but is not guaranteed.

Repayment

The bonds are expected to be repaid in ten annual instalments from 2021 to 2030.

Minimum investment

£250

Interest

5% gross per year, increasing in line with the annual retail price index each year from April 2019. Payable net of UK basic rate tax (unless held in a Triodos Innovative Finance ISA). Payment of interest and repayment of capital are not guaranteed.

Security

The bonds are secured by way of a standard security over the tenant’s interest in the lease of the turbine site and a floating charge over all of the assets of the company. This asset security does not mean that capital or interest payments are guaranteed in any way.

Transferability

Bonds are transferable but are not listed on any investment exchange which means that bondholders will have to find a willing buyer and agree a purchase price with them. Investors should be prepared to hold the Bonds for their full 12-year term.

Covenants

A negative pledge regarding other borrowings until the bonds are repaid in full. This prevents the company from taking on additional debt.

Minimum raise

Bonds will be issued if at least £1,450,000 is raised. If not, then investors’ monies will be returned with no accrued interest.

Timetable

1 March 2018 until 29 June 2018 (unless fully subscribed earlier or if the directors, at their sole discretion, decide to extend the offer).

Risk warning

Past performance is not an indication of future performance. Capital is at risk and returns are not guaranteed.

 

 

 

 

https://www.triodoscrowdfunding.co.uk/invest/coigach-community

Sits Vac: Local Development Officer

March 29, 2018
by

Achlochan rainbow

 

Local Development Officer

Part Time Position – 17.5 hours per week

Salary: £26,495 pro rata

CLOSING DATE FOR APPLICATIONS – 12 Noon Friday 13th of April

Coigach Community Development Company (CCDC) is looking for an energetic and self-motivated individual to take forward a range of community projects. The post is part funded by Highlands and Islands through its Community Capacity Building initiative, and part funded by CCDC.

CCDC was established in 2010 following community consultation with the objectives of supporting community sustainability and growth. Details of the objectives are set out in the Coigach Community Development Plan which outlines the main issues, concerns and opportunities identified by local people. The successful candidate will assist CCDC and the community to take forward a range of projects and implement the Coigach Community Development Plan, enhancing the socio-economic, cultural and environmental welfare of the local area. The position is a job share, reporting to the volunteer board of directors.

A detailed job description/person specification, application form is here:

LDO Job Description 2018

or contact  info@coigachcommunity.org.uk

 

 

HIE Logo

 

Coigach Community CIC raising £1.75 million for community wind turbine project

March 13, 2018
by
bui spotlight named

Photo by Bernie McGee

Coigach Community CIC,  our community interest company which owns and operates a 500 kW wind turbine in Coigach, is working with Triodos Bank to raise £1.75 million through a bond issue. The new funding will be used to refinance the wind turbine asset and enable the company to donate its retained profits to the community of Coigach to fund a variety of community projects.

The turbine, named ‘Varuna’, was commissioned in 2017 with the aim of providing a source of new renewable energy and a regular income stream to support the community of Coigach, which is situated on a remote peninsula in the Northwest Highlands of Scotland. Coigach has a declining population currently of around 260 and faces many challenges common to such remote communities including; a lack of affordable housing, decreasing levels of health provision and a fragile economy over-reliant on the traditional industries of crofting, fisheries and seasonal tourism.

The turbine began operating in March 2017 and benefits from the UK government’s Feed-in-Tariff scheme which guarantees inflation protected income for 20 years. It has generated over 800,000 kWh of clean energy to date.

The development of the wind turbine project was led by Coigach Community Development Company (“CCDC”) – (now a local charity) established in 2010 by residents of Coigach to benefit the community. Over the next 20 years, Coigach Community CIC expects to generate surpluses of around £4.4 million after paying operating and finance costs. 100% of these profits will be donated to CCDC to fund projects which help to develop affordable housing, bring employment or work space into the area, develop transport links and amenities or conserve the natural area. One such project is the re-development of the community’s harbour facilities.

The bonds will be secured by way of a first legal charge over the wind turbine asset and will pay interest of 5% a year increasing annually in line with inflation. The bonds will be redeemed in instalments over 12 years and can be bought on Triodos Bank’s investment crowdfunding platform at www.triodoscrowdfunding.co.uk/invest/coigach-community The bonds are eligible to be held in an Innovative Finance ISA which means interest can be received tax free.

Iain Muir, director of Coigach Community CIC, said:

“Community energy is a great way of generating funds for the benefit of the local community.

By supporting our wind turbine project, investors are not only investing in an operating asset and the generation of renewable energy but can also be assured that they are also helping us to tackle some of the most pressing issues our community faces.

Triodos Bank is a natural partner for us as they combine financial and renewable energy expertise with a commitment to business as a means of benefiting the community.”

Dan Hird, Head of Corporate Finance at Triodos Bank, said:

“To tackle the big issues we face today we need to inspire ordinary investors to support progressive and credible community led businesses. This bond issue perfectly aligns with our mission at Triodos Bank to make money work for positive social, environmental and cultural change.”

For more information and to register interest and receive alerts each time a new offer goes live, visit www.triodoscrowdfunding.co.uk

An investment in Coigach Community CIC’s bonds is not covered by the Financial Services Compensation Scheme. Coigach Community CIC’s ability to pay the interest and repay the bonds is not guaranteed and is dependent on the continued success of its business model. Coigach Community CIC’s’ bonds are not listed on a recognised investment exchange, so investors should be prepared to hold the bonds for their full term. Like all ISAs, IFISAs are subject to eligibility requirements.

For further information please contact:

Diana Gerry diana.gerry@triodos.co.uk 0117 9809649

Julia Campbell info@coigachcommunity.org.uk 01854 622379

Notes

Coigach published an offer document dated March 2018. Applications can only be made on the basis of, and subject to, the terms and conditions of the information contained in the offer document which includes the bond instrument and the terms and conditions of the Triodos Crowdfunding website. Coigach Community CIC is a company limited by shares and a community interest company, registered in England with registered office at Pannone Corporate LLP, 378-380 Deansgate, Manchester M3 4LY (registered number 09638437).

About Triodos Bank

Triodos Bank is a global pioneer in sustainable banking using the power of finance to invest in projects that are good for people and the planet. Triodos uses its €14 billion in assets to create social, environmental and cultural value in a transparent and sustainable way.

With UK operations based in Bristol, Triodos Bank has branches in the Netherlands, Belgium, Spain, Germany and an agency in France. Globally, Triodos Bank has microfinance projects in Central Asia and Eastern Europe, and is a founding member of the Global Alliance for Banking on Values (GABV), a worldwide network of 43 banks seeking to transform finance into a vehicle of positive influence.

www.triodos.co.uk
www.twitter.com/triodosuk
www.facebook.com/triodosbankuk

Triodos Bank NV (incorporated under the laws of the Netherlands with limited liability, registered in England and Wales BR3012). Authorised by the Dutch Central Bank and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request. Firm reference number 183366.

Investments offered on the crowdfunding platform are not readily realisable, which means that they may be difficult to sell and you may not get back the full amount invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and your capital is at risk and returns are not guaranteed. Repayment of capital and interest or payment of dividends will be dependent on the success of the organisation’s business model and past performance isn’t a reliable indicator of future performance. You should always read the offer document in full before deciding whether or not to invest as it will cover risks specific to an individual investment. You can read more about the general risks associated with making these types of investments here. If you are unsure if any of these investments are right for you, you should contact an Independent Financial Adviser.

 

Our Bond Offer is Launched!

March 5, 2018
by

Coigach Community CIC’s bond offer is now open!  If you would like further information please go to        www.triodoscrowdfunding.co.uk/invest/coigach-community  for all the details of how to invest.IMG_3344 

The offer will be promoted widely from mid March, but in the meantime you have a head start! Of course you can invest at any time up until the offer closes on 30th April subject to availability. The bond offer document is available immediately online at www.triodoscrowdfunding.co.uk/invest/coigach-community and there will be printed copies available soon. If you require a printed copy please contact info@coigachcommunity.org.uk, phone Julia Campbell 01854 622 379 or pick one up at Coigach Community Hall, Achiltibuie Stores or The New Broom in Ullapool.

 

You should ensure you read the Offer Document in full, including the section on key risks, before deciding whether to invest in the bonds. Investing in the bonds is not the same as depositing money in a bank account as your capital is at risk and you may not get back the full amount that you invested. An investment in the bonds is not covered by the Financial Services Compensation Scheme.

 

This financial promotion has been issued and approved by the UK division of Triodos Bank NV (incorporated under the laws of the Netherlands with limited liability, registered in England and Wales with branch number BR3012). Authorised by the Dutch Central Bank and subject to limited regulation in the UK by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request. Registered office: Triodos Bank NV, Deanery Road, Bristol, BS1 5AS.

Invest in Coigach! Bond offer coming soon..

February 6, 2018
by
namedIMG_2806
We’ll shortly have an offer document available for our forthcoming bond offer with Triodos Bank.  We’d like to give you (as a visitor to our website!) advance notice of this exciting opportunity – to make a long term investment – and to support Coigach’s turbine.
Plans are underway to re-finance Coigach’s community wind turbine with the help of Triodos Bank. Triodos is one of the world’s leading sustainable banks and their mission is make money work for positive social, environment and cultural change. The re-financing (at lower rates than our present loan) means more money for the community!
Representatives of Triodos (based in Bristol) have visited Coigach and having seen the turbine in action (and studied the figures of course) will shortly be promoting our bonds to investors. With a track record of providing financial support and lending to pioneering community projects and other ventures that fit with their ethos, they already have a large base of potential supporters and investors.
namedIMG_5801
Coigach’s bond offer will be launched by at the end of February (probably Monday 26th but tbc) and although it will be available to anyone glancing at their website, it will not be promoted to the big wide world for two weeks. This gives people in Coigach, the Coigach diaspora, and anyone reading this a fortnight’s head start!
Triodos will be filming in Coigach on Saturday 10th February – to showcase the people and places that make it special. If you’re out and about wear your best bobbly hat – and wave cheerily at the drone!
Full details of the bond offer will be in the document, which, if you are considering investing,  you should read in full.  In the meantime, we’ve added some Frequently Asked Questions …and the answers here:  Bond FAQ
Once it’s available, we’ll publicise the offer document on social media (Coigach Community Development Company on Facebook, @coigachcdc on Twitter) or you can request notification by contacting info@coigachcommunity.org.uk.

Turbine Hoolie and Open Day

November 2, 2017
by

Saturday 25th November

From 2pm… Open Day at Coigach Community Hall with tours up to (and into) Coigach’s Community Wind Turbine and Ben Mor Hydro. Transport provided as parking at the hydro project (at Acheninver) is limited – though it’s a pleasant walk down the Acheninver Burn if you’re feeling energetic! We’ll also have a display of information and photos (at the hall) and directors of CCDC, Coigach Community CIC and Coigach Wind Power Ltd will be on hand to chat about the project. Refreshments at the hall – and a hot bowl of soup on your return from the tour.

This will be followed by more food, and a ceilidh in the hall. Come along and join in – bring your instruments, your dancing shoes and chiefly yourselves!

If you would like to come to the open day and/or the ceilidh please email info@coigachcommunity.org.uk or phone or speak to Julia Campbell 01854 622 379 to let us know you’re coming and so we know how much food to make, and for transport.

 

Processed with MOLDIV