The October Meet-up was exciting, with news about technical design updates and a timetable for construction beginning to take shape as well as plans for opening investment opportunities.
Planning has been granted for two parallel Archimedes screws at the site. Total output would have been 46kW but remarkably OFGEM have said that we can increase our generation capacity and we are looking for a local consumer to partner with as the grid cant cope with increased generation. The more the scheme can produce, the more local community sustainability projects will benefit.
Revenue will come from selling the electricity generated, either back to the grid or to private customers. Feed-in Tariff (FIT) has been agreed, allowing reliable income forecasts. We have also found local customers who are seeking green energy to power their businesses. Selling the power locally is a great way to move Reading towards their renewable energy targets.
Now the path is open to look at starting the installation of the scheme and we are hoping to commence construction in late spring of 2020.
In order for work to start, funds will need to be raised. Very soon investment opportunities will be announced. We are currently investigating ideas for advertising in and around Reading and communicating the chance directly to members the moment the opening date is set.
The meeting was a fun brainstorming session, plus the excellent work already done by the teams have given us plenty of new ideas for the campaign and its promotion. Keep your ear to the ground and watch this space.