REIC AIMS AND OBJECTIVES
The Renewable Energy Investment Club was set up with the primary aim of promoting commercial activity in renewable energy. REIC's secondary aim is to simplify the process of and reducing the cost of offering shares in a community renewable energy project.
REIC aims to:
· Facilitate community ownership of renewables
· Raise awareness of and promote renewable energy initiatives
· Raise awareness of and promote social and ethical investment opportunities
· Help to diversify the economy by encouraging investment in renewable energy projects within local regions within the UK.
Through the establishment of this investment tool it is hoped that more community groups or larger developers of RE projects will offer local people a stake in their local RE scheme as well as increasing the number of projects successfully obtaining planning permission.
The key objectives of the Renewable Energy Investment Club are:
· To provide a mechanism for linking people who wish to invest in sustainable energy initiatives with renewable energy companies, including community groups, within Wales.
· To provide information on new investment opportunities to members.
· To encourage and promote RE technologies, particularly schemes with community developed schemes
· To encourage and promote social and ethical investment
The REIC website provides information to community renewables initiatives, including access to a downloadable community renewable investment club handbook and links to potential sources of help, including Baywind, the Countryside Agency Community Renewables Initiative project and local support groups, Awel Aman Tawe and the Wind Works package.
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