The first year of running

4th October 2017

Dear Shareholders

The final payments for the project have been made and this means the scheme can at last receive its feed in tariff payments. The final project cost came in below budget by £5000. The finishing touches to the turbine house are nearly complete (stone and timbre cladding) and it is looking very good. kWh generation has kept up with the expected total for the year, we currently have generated just over 90,000 kWh and we expect a minimum of 120,000 kWh with two and a half months to go to complete the first year of generation. (14th December 2017)

The application for the tax certificates from the taxman has dragged on a bit too long. We are responding to the taxman’s requests as quickly as we can but this is a two way process and it has had its hold ups along the way. We can only apologise for this delay and assure you that we are doing everything possible to expedite the application process.

We have had several visits from shareholders including a visit from the AONB recently. We would encourage you to book in and have a tour of the project which includes the turbine house, pipeline route and a visit to the source of the water for our hydro project.

The Secretary

CEC