Four Winds Co-op with help from Energy4All has constructed, owns and operates two wind turbines.
Four Winds is a registered Society under the Co-operative & Community Benefits Society Act 2014 with the Financial Conduct Authority (FCA), and is governed by its Rules and run by a board of directors.
Four Winds, supported by Energy4All raised the required funds £3.4 million through a public share offer enabling local people in Derbyshire, Yorkshire and beyond to become members of the co-op by purchasing shares.
Income & Operating costs
The electricity generated is sold to the electricity markets through Power Purchase Agreements and the co-op also receives income through the Feed in Tariff. The actual level of income depends on the level of wind at the sites and the operational efficiency of the plant. After payment of maintenance, loan repayments, rent, administration costs and community fund contribution, the surplus profits are available to distribute as share interest payments to members of the co-op.
The Community Fund is available to support community initiatives local to each wind turbine.
The co-op is supported by Energy4All, which supplies a comprehensive package of management services, including accountancy, share register management and general administration.
Annual General Meeting
Each year the co-op will hold an Annual General Meeting (AGM) – to which all members will be invited, and where the activities of the co-op and the performance of the wind turbines will be discussed. The following motions will be put before the AGM:
Approve Annual Accounts
Approve the distribution of surplus funds (profits)