COMMUNITY renewable energy for Okehampton and its hamlets is getting close to becoming a reality with the creation of an energy society.

Following the results of a renewable energy feasibility study, instigated by Okehampton Town Council and Okehampton Hamlets Parish Council, the group CORES (Community of Okehampton Renewable Energy Society) has been set up as a community benefit society by a working group of volunteers.

The group is still in the ‘embryonic stages’ but hopes to be up and running by the end of the month.

At a meeting of Okehampton Town Council on Monday, councillors were told of the completion of the feasibility study.

The study, conducted by DARE (Devon Association for Renewable Energy), looked into investigations into the potential for community owned solar photovoltaic panel arrays and hydropower systems in the town and its outskirts.

At the meeting, Cllr Tony Leech said: ‘The feasibility report was a joint venture between us and the Okehampton Hamlets, but the hamlets took the lead. The study is all feasible. From the hydro power point of view, the report could not be fully completed because there was too much water in the rivers and it was too dangerous to do some of the measurements, but that’s good.’

Cllr Jan Goffey said: ‘I commend them on the work they have done on this thorough report and I look forward to its implementation — particularly the hydro power.’

Councillors were then told of the new society formed and its plan to get its initial projects underway.

CORES aims to generate electricity locally, sell it at near half-price to local businesses and put the profit made to good community use in the Okehampton area. Its initial project includes installing solar panels on six large buildings — one commercial and five clubs and community buildings.

The installations will provide cheap electricity to these local businesses and groups and support their environmental and financial sustainability. Excess profits will support local good causes in the Okehampton area. It is hoped the project can be completed by September but £150,000 from investors is needed to do so.

The group already has core investors and support from ‘green’ county-wide organisations but it needs local people to invest.

Cllr Bob Rush said: ‘There are a number of similar societies around Devon. Things have moved quite a pace since the study came back to us. We have effectively formed CORES but it’s in the embryonic stages at the moment. We want to get it off the ground. As soon as we have our business plan, brochure, agreements with industrial sites, we’ll be marketing and asking for money.

‘We have six solar panel sites that need to be up and running by September. We need £150,000 of investment which will hopefully come from crowd-funding — local people who are willing to invest.’

Cllr Paul Vachon stated that as it was a community project, the money made from it would go back into the community but asked what the investors would get.

Cllr Rush said: ‘The investors will be shareholders and should get a return of between three and five percent. I expect the return would be minimal in the first two years but after that there should be a decent return.’

Cllr Goffey said that when Newton Abbot did community fundraising for a similar scheme, they raised £60,000 in the first ten days, because it was something people wanted.

She said: ‘Look at the community buildings we’ve got in Okehampton — if they can produce enough energy to supply themselves, it will save them a lot of money.’

For more information about CORES visit www.facebook.com and search ‘Community of Okehampton Renewable Energy Society - CORES’ or contact secretary Beryl Holley on 01837 658515.