What is Resilient Energy Alvinton Court Renewables Limited?
REACR is a Society setup for the benefit of the community, managed for the benefit of the community and is owned by its members, who are protected by its limited liability status. The constitution of the Society is in the form of the Society’s Rules which have been approved by and registered with the FCA. The key characteristics of REACR are: The Society operates for the benefit of the community; a member must have the minimum number of Shares each with a nominal value of £1; all members have one vote regardless of how many Shares they hold; no member, except another society, may hold more than 100,000 withdrawable Shares; and, members elect representatives to the Board.
REACR has been established for the purpose of constructing, owning and operating a community wind turbine at Alvington to produce renewable energy and as a benefit to the community in the Forest of Dean. It is also hoped that the Society will play a key role in the Forest of Dean community though tackling fuel poverty in the GL15 postcode area and seed funding other projects that increase community resilience through a community fund.