Ynni Cymunedol Cymru

Ynni Anafon

The Venture:

The Aber Falls, above the village of Abergwyngregyn, is well known as a stunning visitor attraction in the Snowdonia National Park. Here in the village, known locally as Aber, we are pleased to be able to welcome some 50,000 visitors a year who enjoy the walk up to the Aber Falls and beyond into the Carneddau range. Some drive up and take advantage of one of the two car parks we run (just £2 a day and all funds go to improving amenities in the village), others park in the free car park at the bottom of the village and walk up the valley. Choosing this second option takes you past Tŷ Pwmp, which houses a small exhibition of the history of Aber and the Princes of Gwynedd who had a court here, and Yr Hen Felin (The Old Mill) Community Centre and café.

The Anafon Hydro Scheme is the most recent community venture in Abergwyngregyn. It is not the power of the Aber Falls that is driving the hydroelectric generating plant but water from the nearby Anafon valley, taken out of the river high in the Carneddau and returned downstream once it has passed through our turbine. The scheme is owned and managed by Ynni Anafon Energy Cyf, a Community Benefit Society set up to build and run this community hydro project.

Investment

Our share offer was launched by the naturalist and broadcaster, Iolo Williams, at a festival in Abergwyngregyn, the Aber Dabba Doo, on 13 September 2014 which attracted approximately 1,000 visitors to the village.

The opening share offer raised over £325,000 before the closing date of 30 November 2014. The significance of this date was that we had set ourselves a target of £300,000 to be raised by then before we could commit to building the Anafon Hydro. As you see, we surpassed this target and proceeded with the project.

The total raised from the sale of shares was £450,900. We thank our shareholders for investing in the Anafon Hydro. Every additional pound raised from shares reduced the amount we had to borrow from the bank in the form of an expensive loan.

All investment attracted substantial tax relief of either 50% or 30% of the amount invested through HMRC’s Seed Enterprise Investment Scheme (SEIS) or Enterprise Investment Scheme (EIS) and the company will be paying interest, initially of 5%, from Year 3 of generation.

Contact Info

Ynni Anafon Energy Cyf, Yr Hen Felin, Abergwyngregyn, Llanfairfechan, LL33 0LP

Tel: 01248 681 513

info@anafonhydro.co.uk

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