News

Closing date extended

We are very nearly there – just £65,000 to raise of the £365,000 we need. We’ve extended the closing date so that we can get this last money in.

The original closing date was set at the end of March because it appeared as if the treasury were going to axe the EIS tax relief from schemes like this from the end of this financial year. In the March budget there was confirmation that we have another six months before the tax relief is axed, so this gives us the flexibility to extend the share offer closing date into April. The sooner we get the last of the money the sooner we can start to build.

Planning permission and licences received

We are very pleased to announce that Ludlow Hydro Co-operative has received its planning permission and impoundment licence jsut before the end of December.

This has allowed us to submit our application for preliminary accreditation to OFGEM before the deadline of 31st December which has allowed us to lock into the current Feed in Tariff. If we had not met this deadine, we would have had to accept the FIT tariff reduction which is expected at the start of April 2015.

We now have all the permits we need in order to go ahead with construction. Before we do this we need to complete and sign the necessary leases, which are well in hand. As soon as these are signed, we will be launching a share offer to raise the funds needed for construction. We are hoping to do this by the beginning of February.

 

 

Consultation on draft plans

We have recently received draft plans for the proposed scheme and have organised a public consultation to share these with the community. This will be at the Ludlow Assembly Rooms, on 5th September, between 4pm and 7pm, all welcome. You can read more details here