Coriolis Energy and ESB have confirmed agreements for a multi-million-pound Local Ownership Scheme and Community Benefit Fund for the Y Bryn Wind Farm proposals.
The groups signed memoranda of understanding with Awel Aman Tawe (AAT), Bridgend Association of Voluntary Organisations (BAVO) and Neath Port Talbot Voluntary Services (NPTCVS) to support communities surrounding the proposed onshore wind farm, near Port Talbot in South Wales.
The arrangements mark the first step towards delivery of a key Welsh Government target to deliver deep, long-term benefits within host communities.
Arrangements have been confirmed on setting up a new community benefit society called ‘Awel y Bryn Co-op’ which will enable the Community Ownership Scheme and Community Benefit Fund and will be managed by AAT, BAVO and NPTCVS.
Through Awel y Bryn Co-op, up to a fifth of the project will be available for community and public sector ownership, which will contribute greatly to Welsh Government targets of having at least 1GW of renewable energy in community ownership by 2030.
Given the nature of the project, the Y Bryn ownership model would be one of the largest part-owned community projects in the UK.
The Community Benefit Fund could total upwards of £1m per year for the lifetime of the project – one of the largest community benefit pots in the UK from an onshore wind project of this nature.
Trevor Hunter, Y Bryn Project Manager said: “The Y Bryn project will play an important role in delivering against Welsh Government Net Zero targets, and will make a significant contribution to energy security, helping to bring down energy costs for UK consumers.”
He added: “From the outset, we’ve been looking at how best to incorporate Community Shared Ownership investment in the Y Bryn Wind Farm Project and management of the Community Benefit Fund, and I’m excited that the project has partnered with AAT, BAVO and NPTCVS to help deliver this.
“The unique agreements will ensure that both opportunities are managed appropriately and by partners who understand the needs of the local community. AAT, BAVO and NPTCVS all have significant past experience in managing similar funds, and are well known and respected locally.”