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Congratulations to Enova Energy
Congratulations on Enova Energy on raising the required startup capital to become Australia's first Community Owned Renewable Energy Retailer. Enova raised over $3.8 million from just over 1000 subscribers, with over 75% from the Northern Rivers Region. CLEANaS look's forward to working with Enova in the future!
Take the power back with Enova Energy
Enova Energy is providing a unique opportunity for individuals and like-minded organisations to participate in building Australia’s first community-owned, renewable energy retailing and installation business by buying shares. Enova launched its Share Offer to the public in late August and is already about half way in achieving the minimum start-up capital target of $3 million.
Enova Energy is confident it has the capacity to be a real game changer in the renewable energy sector. “We are the missing piece in the puzzle. Apart from changing things in this region, we can help other communities get their renewable generation projects off the ground,” says Alison Crook. “Communities all around Australia are looking for practical leadership. We are already receiving calls for help from groups wanting to know how they can do what we are doing. In the very near future, when we are fully operational, we will be in a position to give them all the assistance they need. After that, it won’t be long before similar projects are up and running in all Australian states. Change is on the way.”
Enova is now seeking support from communities all around Australia. An obligation free shareholder event is being held in Newcastle (see below). For more information please contact Virpi Barrett at 0467 070 234 or [email protected]. Further information and the prospectus is available at www.enovaenergy.com.au.
Enova Energy is confident it has the capacity to be a real game changer in the renewable energy sector. “We are the missing piece in the puzzle. Apart from changing things in this region, we can help other communities get their renewable generation projects off the ground,” says Alison Crook. “Communities all around Australia are looking for practical leadership. We are already receiving calls for help from groups wanting to know how they can do what we are doing. In the very near future, when we are fully operational, we will be in a position to give them all the assistance they need. After that, it won’t be long before similar projects are up and running in all Australian states. Change is on the way.”
Enova is now seeking support from communities all around Australia. An obligation free shareholder event is being held in Newcastle (see below). For more information please contact Virpi Barrett at 0467 070 234 or [email protected]. Further information and the prospectus is available at www.enovaenergy.com.au.
Enova Share Offer Information Evening - Held 10th November
The Enova Energy Team held an information meeting on the Enova Community Energy Ltd share offer on Tuesday 10 November in Newcastle which was well attended. CEO Steve Harris from Byron Bay presented information about the company and answered many questions about the Share Offer and the Prospectus. A video of the presentation is available below. Note that our own CLEANaS Chair Alec Roberts speaks on CLEANaS and why we are interested in ENOVA from about 1:18.
The event was proudly hosted by CLEANaS.
The event was proudly hosted by CLEANaS.
Background – Game Changing Difference
Enova Energy is the first community owned renewable energy retailer and installation business in Australia. Enova has the Electricity Retailing Licence covering the whole NEM (no VIC), but it is starting its operations at the Northern Rivers Region. It has a not-for-profit arm that will return half of the profits to the community through social benefit projects. Enova will support other community renewable energy projects and initiatives, e.g. by making Power Purchase Agreements with generation projects and will eventually act as a model and a hub for other community groups wanting to do the same!
Enova Community Ltd is providing a unique opportunity for participation in building Australia’s first community owned renewable energy retailing and installation business.
Enova Energy’s mission is to demonstrate the viability of an alternative energy model that can be replicated across Australia. Not only will this give local communities ownership of the issue around carbon emissions from energy, but it will challenge the dominance of the larger retailers and facilitate the development of a regionally driven renewable energy industry in Australia.
As a locally-based community owned energy company Enova Energy intends to:
Enova will be based in the northern rivers region of NSW, but will sell electricity to consumers as far south as Coffs Harbour and Glenn Innes.
Enova Energy’s mission is to demonstrate the viability of an alternative energy model that can be replicated across Australia. Not only will this give local communities ownership of the issue around carbon emissions from energy, but it will challenge the dominance of the larger retailers and facilitate the development of a regionally driven renewable energy industry in Australia.
As a locally-based community owned energy company Enova Energy intends to:
- partner with groups and agencies throughout the community to shape finance and deliver programs to assist vulnerable households, lower socio-economic groups, and community organisations
- employ locally
- invest in energy education, helping potential customers understand the options available to reduce energy costs
- assist customers struggling with high cost grid energy to make the transition to low cost renewable, and will
- develop options to make solar take-up attractive to landlords and renters.
Enova will be based in the northern rivers region of NSW, but will sell electricity to consumers as far south as Coffs Harbour and Glenn Innes.
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On Friday 16 October, the Australian Energy Regulator approved Enova’s application for a retail licence, subject to completion of Enova’s current capital raising by late November. Shares are from $1000. The share offer has now closed. Note that Enova shares will not be listed on the ASX or other securities exchange after the offer.
Please note that investments in shares of community owned renewable energy companies such as Enova Energy are long term investments to deliver an environmental and social impact as well as a financial return. As with any investment there are risks. Your capital is at risk and may not be readily realisable. Returns are projected, variable, depend on performance of the project and are not guaranteed. Consider all risks before investing. |
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Disclaimer
This information and indeed the prospectus does not provide or constitute investment advice. You should seek your own financial advice. The offer contained in the Prospectus does not take into account your investment objectives, financial situation or particular needs. It is important that you read the Prospectus carefully and in full before deciding whether to invest in the Company. In particular, in considering the prospects of the Company, you should consider the risk factors that could affect the financial performance of the Company in light of your personal circumstances (including financial and taxation issues) and seek professional advice from your accountant, stockbroker, lawyer or other professional adviser before deciding whether to invest.
