New England and North West residents are being invited to invest in the 4.6 MW community owned solar and battery storage project Manilla Solar, with expression of interest opening and community engagement roadshow events across the region to be held this week.
Communities living within 150 kilometres of the project and national investors who see the value in the project are being invited to invest.
The Manilla Solar project was first conceived in 2012 and in 2023 successfully raised $435,000 from 82 investors to acquire the project.The aim is to attract investors who live within 100 miles of Manilla to keep the power within the local community.
“It feels so possible. The people I speak to, they understand the opportunity, the science and technology. They see the importance in supporting this type of project. Creating a model for energy production that improves our local l economy and brings our community together.” said Emma Stilts, President, Manilla Community Renewable Energy Inc. and Director of Manilla Solar Pty Ltd.
The campaign kicks off with an invitation sent to 35,500 residents across New England and the North West who have been invited to consider the project. The project also welcomes investors who want to support the region and the idea of community ownership.
Manilla Solar is an example of democratising energy production and the energy transition.
The project invites community members to meet the directors Emma Stilts and Gerald Arends by attending one of the community engagement roadshow events which presents an opportunity for potential investors to ask any questions they have to project directors.
‘’It is a natural step-up from similar raises for the Grong Grong Solar Farm and the Goulburn Dispatchable Community Solar Farm projects that I am involved with. We expect that other communities will follow the example of Manilla – communities want to see local energy production and have a say in how these projects deliver benefits locally and regionally.” said Gerald Arends, Director of Komo Energy and of Manilla Solar.
The roadshow will take place across 24-27 October and will visit Bingara, Narrabri, Boggabri, Gunnedah, Quirindi, Manilla, Tamworth, Armidale and Guyra.
Manilla Solar is gearing up to raise up to $4.5 million through community investment raise. That’s equivalent to 2,300 people investing $2,000 to meet this target, with investments ranging from $100 to $10,000. Sophisticated investors who can invest more would need to provide a Sophisticated Investor Certificate.
Manilla Solar anticipates a second investment raise in April 2025, and potentially a third investment raise for the battery (in 2025-2026).
This current investment raise will run 26 October-15 November and will be operated via equity crowd-source funding platform Swarmer. Investment details will be updated via manillasolar.com.au
If successful, this project, the largest crowd funded in Australia, could be under construction in April 2025.
This project is proudly funded by the NSW Government in association with Manilla Community Renewable Energy Inc. under the Regional Community Energy Fund.
What is the Manilla Solar Project?
The Manilla Solar Project is a community-led 4.6 MW solar project with a battery of 5 to 10 MWh storage, to be located 2km to the South of the Manilla substation, on the Calokerinos property.
It will be hosted on 15ha of land, and it will have a lifespan of 25 years, with an option for another 10 years. It will power approximately 2300 homes.
Manilla Solar aims to be 100 per cent community owned, and we expect that it will be funded through a combination of equity investment, government grant funding and possibly a loan. We invite people to invest up to $10,000 on 26 October 2024 when the Manilla Solar crowd raise opens.
100 per cent community investment gives the project the best ability to share financial returns through community initiatives i.e. the ability to sell cheaper power to local residents, business and shareholders, promote local initiatives, support the next community project.
Our ambition is to build a model of community ownership and share our blueprint with other communities across the New England and North West region.
Community Roadshow 2.0 Details:
Bingara: Imperial Hotel, 3pm 24 Oct.
Boggabri: RSL club, 6.30pm 24 Oct.
Narrabri: Geni.Energy, 7.30am with coffee, 25 Oct.
Gunnedah: Civic Centre, 10.30am 25 Oct.
Quirindi: Community Hub, 3pm 25 Oct.
Tamworth: The Tamworth Hotel, 5pm, 25 Oct.
Manilla: Community Hub Opening, 116 Manilla St. 2346, 10am, 26 Oct.
Tamworth: Weswal Gallery, 3pm, 26 Oct.
Armidale: Kent House, 11am-12pm 27 Oct.
Guyra: Neighbourhood Centre,2pm 27 Oct.
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