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Sits Vac: Local Development Officer

March 29, 2018
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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

 

 

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

March 13, 2018
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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
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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
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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.
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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
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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.

 

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AGM 2017 Notice

October 25, 2017
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Coigach Community Development Company invites all members to the

Annual General Meeting 2017  and Extraordinary General Meeting

7pm, Monday 20th November 2017

Coigach Community Hall, Achiltibuie

AGM Agenda

  1. Welcome and apologies
  2. Approval of AGM Minutes of 22 Nov 2016
  3. Chair’s Report on CCDC and subsidiaries.
  4. Approval of the 2017 Accounts
  5. Election of Directors

 

EGM Agenda

  1. Welcome and apologies
  2. Adoption of amended Articles of Association preparatory to CCDC converting to a charity.

Documentation relating to the above will be sent to all members in advance of the meetings.

 

If you would like support CCDC by becoming  a member please get in touch or download a membership form here. Membership Form 2017  You can join immediately prior to the AGM or at any time during the year. Please submit completed membership forms to the CCDC, Coigach Community Hall, Achiltibuie IV26 2YG

 

If you would like to be nominated or nominate someone as a director please download and complete this form: Director Nomination Form  and return it to CCDC, Coigach Community Hall, Achiltibuie IV26 2YG or info@coigachcommunity.org.uk  no later than 7pm on Monday 13th November (7 days prior to the AGM).

Green, green grass of home..

October 3, 2017
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Boast, Boast, put on the toast… Coigach’s community wind turbine has been shortlisted for the year’s Green Energy Awards in the “Best Community Project” category while Ben Mor Hydro is among the finalists in the “Best Community Engagement” section. The winners will be announced at the Scottish Green Energy Awards ceremony in Edinburgh on 30th November. It’s great news for Coigach to have two projects recognised!

There will soon be an opportunity to invest in Coigach’s wind turbine as we will be offering shares in it. Shareholders will receive an attractive rate of interest while supporting our local project. Full details will be covered in the prospectus which will be available in the coming months.

 

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