Teign Energy Communities (TECs) is the Community Benefit Society (CBS) umbrella, providing the financial and legal framework for organisations within Teignbridge to deliver their own local Renewable Energy projects. These local organisations (called stakeholders) can be community groups, social enterprises, health/education trusts, councils, businesses and any group that shares the vision, aims and objectives of the CBS.
As an umbrella Community Energy Society we want to work with others groups and organisations in Teignbridge to help them realise their Energy generation/saving projects. TECs can provide the know-how and access to information on technology, process, legal and financial matters.
TECs will partner with Stakeholders who have Renewable Energy/Energy Saving plans they wish to realise. We can provide support as well as implementation of all aspects of such projects including finance and ongoing operations and maintenance.
The approach we take is one of benefit/risk sharing with our Stakeholders. We want them to be part of the process of realising their chosen project(s) so that they not only benefit financially, but also engage in their energy use.
Together with our Stakeholders we will assess the viability of a project to ensure that it meets TECs’ objectives and criteria as well as those of the Stakeholder. TECs’ Assessment Criteria are available as part of our published Documents.
A Financial Model and Terms of Agreement will be developed jointly. This will be an ‘open book’ process where it is in both parties interest to share risk and reward equitably.
The TECs Board is responsible for all commercial decisions, legal agreements and financial commitments. As a Community Benefit Society the Board will also take advice and views from its supporters, Stakeholders and Members in its decision making process.
Installers and service providers used by TECs are equally important. This is why we are establishing a list preferred local providers that share in our vision and way of working within the community.
More information on how TECs works can be found in our Publicity & Marketing Strategy available as part of our published Documents.
TECs, with support from its Stakeholder organisations, will raise funds through community shares to cover costs of Renewable Energy/Energy Saving projects proposed by Stakeholders.
Any project will have to be both financially and environmentally viable. We are very keen that as much of the energy as possible generated by our RE installations is consumed on site. The project will also need to be in line with TECs’ vision, aims and objectives. Appropriate commercial agreements with these organisations for Renewable technologies will be negotiated to achieve an equitable benefit/risk sharing arrangement.
The initiative was launched by Transition Newton Abbot CIC in November 2014. The Energy Group of TNA had already delivered several successful energy-saving projects in the local area, so already had a good track record and good local contacts.
We received seed funding (15th Dec, for £4,000 from DCC) to implement phase-1 of the project which was completed in July 2015. This has established our vision, aims and objectives, submitted TECs and its founder Directors for registration with the Financial Conduct Authority (FCA) and established a team to deliver our Business Plan in line with the processes we have defined in this phase.
Having been registered with the FCA (CBS number 7210) in September 2015, we then embarked on phase-2 with support from Teign Housing, Templer Academy Schools Trust, Two Valleys Community Energy, Transition Newton Abbot, The Avenue Church and Teignbridge District Council. This phase has focused on delivering our first successful installation (~50kWp PV) at Teign School in Kingsteignton.
We have secured further grant funding to evaluate the feasibility of a number of post-Feed-in-Tariff renewable projects in the district.