Raised to Date (17/04/2013) - £2,690,898
We have raised £2.69 million and can build four of the five turbines.
Important Clarification To The Share Offer Document
It has been brought to our attention that the projected returns quoted under the first two bullet points in the Chairman’s letter on Page 3 of the Share Offer could be misinterpreted. Similar wording appears elsewhere in the share offer - e.g. page 14. The figures quoted are in fact the projected average annual rate of return over the life of the project. For clarity, the statements should read:
The hub height increase has been granted planning permission on the 14th November 2012 and will increase from 30-40m.
Please note that Page 4 in the offer document under summary point 4, states that two sites have planning permission for another turbine other than the WTN turbine (preferred manufacturer).
We are pleased to announce that planning permission has now been granted for the change of turbine type from a Vestas V27 to our preferred WTN turbine at the Parkgate and Aghafad sites. All five sites are now ready to go with WTN turbines.
On Page 9 under Risks in relation to the Offer further soil investigations have been completed to a greater depth and we are pleased to confirm no issues were highlighted.
ROC Buyout Price
On Page 9 under Renewable energy industry risks, the Government Response to the consultation on proposed changes to the Northern Ireland Renewables Obligation in 2013 published by the Department of Enterprise Trade and Investment has confirmed that 4 ROCs will remain in place and the next review will be in 2014, after the proposed build timetable for our turbines.