Why are we doing it?
The vision of Ovesco Limited is to develop locally owned renewable energy generation resources, that reduce our dependence on imported energy and our carbon emissions. This project is the first step towards this goal.
The project has been calculated to produce a highly reliable income stream from which interest can be paid to investors in addition to community benefits. Green energy, produced from local renewable sources, provides many other, non-financial, benefits. We have designed the offer to balance the need for members to receive a reasonable financial return with community benefits.
Ovesco Limited intends to dedicate a sum, not less than £500 each year and rising as means allow, to be given to local community groups to assist with insulation, advice on generating renewable energy if appropriate, energy audits to establish the best ways to reduce energy use, and other similar projects. Over a number of years, in partnership with Transition Town Lewes’s Energy Group, we have organised energy fairs, established open eco house week-ends, carried out home energy audits and arranged talks on the need for energy reduction and how to achieve it, and will continue and extend this work.
We are engaged in talks with Good Energy to establish a means to donate part of the surplus electricity to local projects such as the Pells Swimming Pool in Lewes, if not physically then on an equivalent generation and consumption basis.
This green energy project is expected to provide many, and less tangible, benefits for all those who are concerned about energy security, environmental damage and the future of young people.
• It helps protect against insecurity of energy supply.
• It gives a clear sign to children and young people of our care for their future.
• It helps meet local, regional and national targets for reduction of CO2 emissions.
• Local electricity generation is more efficient than electricity from the grid. *
• Everyone aged 16 or over can apply to contribute to generation of green energy through the scheme, even if their own property is a listed building, in the National Park or not suitable for PV, or if installation would be too disruptive for the household.
• Ovesco intends that this will be the first of many such schemes in which it will work with site owners to generate electricity from their properties.
• The project combines a pioneering approach to local energy generation, community action and a secure financial foundation.
If you invest, you will be taking part in an important and innovative approach to energy security and renewable generation, while drawing a financial benefit.
Read about the share offer, click here to download the PDF