Journal

Our Annual Report for FY2019 is here!

Our Annual Report for FY2019 is here!

Performance highlights 

  • Payment of first dividend of $251,025
  • 72% reduction in unscheduled outages
  • Artist residency by Cameron Robbins
  • Significant partnership programs with Hepburn Solar Bulk-Buy and Hepburn Z-NET

Hepburn Wind’s FY2019 Annual Report is here and we have some great highlights to share with our members and supporters.

After a succesful financial year, Hepburn Wind has delivered its first dividend. Many members opted to reinvest their dividends into the wind farm and 13 donated dividends to the Community Fund.

While high energy prices buoyed the co-operatives performance, Hepburn Wind continues to operate in a volatile market. With the absence of any substantial federal energy policy, the renewable energy certificate market is continuing to decline, posing significant risk to the co-operative which obtains a substantial portion of income from large generation certificates (LGCs).

Hepburn Wind has been working to address these issues by collaborating with the community energy sector and lobbying for a suite of policy interventions that will strengthen the co-operative and de-risk community energy projects.

To diversify the co-operatives generation portfolio, work on the solar farm is continuing. In November 2018 a $500,000 grant was secured from the state government to conduct technical studies and put towards capital costs. In addition, approximately $180,000 worth of pro-bono work has occurred which ensures these development activities come at a little cost to the co-operative.

Hepburn Wind has been lobbying for special consideration and has submitted a hardship application for the state governments Remote Earth Fault Current Limiter (REFCL) program which came as a response to the Bushfire Royal Commission. This program requires Hepburn Wind to complete substantial and costly upgrades on-site.

This year, the Annual Report takes a deep dive into the co-operatives social and environmental impact. Here are some of the key statistics:

Our lifecycle impact – 8 years in!

  • Total energy generated 80,865MWh abating 87,334 tonnes of CO2
  • Total Community Fund benefit of $247,526
  • 32kW of donated solar projects on 7 community facilities worth $47,450

This year’s ‘in-kind’ impact

  • $500,000 grant secured for solar farm development and CAPEX
  • Pro-bono board time valued $45,500
  • Business development grant worth $23,200
  • $50,000 pro-bono contribution to the solar farm development (now totalling $180,000)
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