Annual Report 2017
Would you like to find out more about Hepburn Wind and what we have been up to this year? You can find everything you need to know in Hepburn Wind’s Annual Report which is now available for download.
This was a year of partnerships for Hepburn Wind and ensuring the delivery of our first return to members. Pivotal to this was the repayment of our loan to Bendigo Bank, which we have managed 10 years ahead of schedule.
Since passing over Hepburn Wind operations to Meridian, we have been highly satisfied with their management. This change has enabled us to focus more on future growth opportunities for the co-operative. This year we also partnered with a global network of community energy organisations titled the Tentou Network, to enhance our ability to support our communities transition to a zero-net energy shire.
In regards to finances, this year our energy yield was notably lower than previous years, but thanks to high energy prices our income was 19% higher than last year, at $1,375,798. This financial position leaves us in good stead to investigate diversifying our energy portfolio to increase the economic resilience of our cooperative going forward.
In short, the key highlights of this years annual report include:
- Reduction of bank debt by $598,027 down to $88,208
- First return to members
- ‘All-in’ price of $145.13, up 24%
- Operations at the wind farm now managed by Meridian
- Delivery of Daylesford first electric vehicle charging station, on Vincent Street
- Claimed an income tax benefit for the first time of $234,074
Members of Hepburn Wind are encouraged to attend our AGM, which will be held on Friday 10 November at 5.15 pm. Our keynote speaker will be Taryn Lane, who will discuss her Churchill Fellowship and research into 100% renewable energy villages. You can register online here.