Q: What are the shares available?
A: There are two share types; the Transacting Share, as required by the Co-operative company Act. This is a voting share and is limited to one per person, or entity. The other is a non-voting Supporting Share for the purpose of recording Equity investment. The Supporting share receives any dividends.
Q: Can shares be redeemed or sold?
A: Shares of both types can be redeemed after a period, or transferred to another approved person or entity, with approval of the board, and provided the company continues to meet the solvency test.
Q: What is peer2peer trading?
A: If one end user generates excess power this can be sold to the retailer or can be traded with another nominated end user.
Q: When does the company expect to be fully operating and profitable?
A: The objective is to achieve profits after one year of production operation.
Q: Can existing houses with solar participate in the project?
A: Yes, by participating in a peer2peer trading arrangement with a retailer.
Q: When are dividends anticipated to commence?
A: Our target is that dividends will start after the first year of trading. The target dividend is 5% or greater.
Q: Where will the solar farm be located?
A: We are presently negotiating land options within the Electra Lines area of operation.
Q: How are strategic decisions managed for the benefit of the community?
A: The transacting Share has equal voting rights for all holders of those shares. A Special General Meeting (SGM) can be called by any shareholder at any time. An Annual General Meeting (AGM) is held once per year, where directors are voted in or confirmed for the future year. Any member of the public can stand as a director, even if not a shareholder.
Our constitution allows between 3 and 11 directors. Directors may be appointed by the board during the year.
The responsibility for all decisions is delegated to the board, with review by shareholders at every AGM. An SGM will be called by the directors when any major decision is required.
Q: What is Power trading?
A: Technology has been and is being developed to allow for individuals or Distributed Generating Plants (DG) to between consumers in a Lines company area, and potentially between areas.
The process does not require any flow of power, but is based on data from the metering recording at the generation and / or consumption point.
Q: How can the Co-operative benefit those who are not members?
A: Peer2peer trading arrangements can be arranged between any generators or consumers metered points, (ICP). Consumers will be buying power from a Retailer in most cases, except for some form of Micro Grid system. As power is a tradable commodity under our present electrical system, there are effectively no limits to how electric power can be traded between parties.
The Co-operative intention is to provide services on a cost plus basis to the benefit of the community generally, but is obligated to reward its shareholders as well.
Q: How will the Co-operative reduce carbon emissions?
A: Solar power and Storage are passive systems with no moving parts, no emissions and minimal maintenance. Apart from emissions used in manufacture, shipping and installation there are no emissions from operating any solar power plants. DG using solar will help to reduce our dependence on fossil fuelled power generation.
Q: Can the solar farm be used to charge EV?
A: Yes it is power that can be used for any electrical requirement directly. It is more efficient to use Electrical power than to use electricity to make Hydrogen, then reticulate that to vehicles, as opposed to using existing wires.
Q: What generation is there on a cloudy day?
A: As solar is from light intensity and not heat, daylight will generate power, less than a bright day, but power is still generated. We have based our calculations on the sun hours per year, around 2000 hours. We can confidently anticipate we will have solar, from the sun for many more years. If there was no daylight plants would not grow.
Q: How to Join?
A: Simple, complete a share application for any amount you are comfortable with.
Q: How does power get from my house to my daughters house in Levin?
A: Power does not actually flow from one place to another, It behaves like water, pressure pushes the water (and power) out to the nearest load, or open tap. Pressure is the same as voltage in this case.
Q: Is solar different to the water heating system on my roof?
A: That seems like Thermal solar heating, where the heat from the sun (infrared) does heat the water in a header tank on the roof, this is then circulated by a pump system to the water heating tank. So there needs to be some plumbing to make sure cold water from the roof is not fed into water storage tank in the house.
Solar Power uses light to generate electrical power by a Photo Voltaic process.
Q: Will hydrogen replace solar farms or Electric Vehicles?
A: Electric power is used to separate out Hydrogen from water, so the process of producing Hydrogen is Power intensive. The Hydrogen then has to be transported to all the Hydrogen stations around the country, as we presently do for Petrol and Diesel.
Electric Power is already available to every house and commercial building.
If Hydrogen is burnt in a combustion engine, there are gas by products such as water and Nitrous Oxide, water is ok, but NO2 is not nice.
If we use the Hydrogen Fuel cell there is only water as a by product, but we still have to reticulate the compressed, and flammable gas around the country, and use power to extract it.
Q: How is a cooperative company different from a Trust?
A: The Co-operative Company Act of 1996, defines the legal requirements, our intention was to operate as a Limited Liability trading company, we believed the requirements of the Act was a better fit compared to a trust. In a trust the trust owns all the assets and is administered by trustees and directors. With a company structure the company owns the assets, but the shareholders own the company equally, the voting power remains with each shareholder.