YnNi Teg is offering new investors in its community wind turbine free sustainably-sourced underwear, as well as a target average annual rate of return of 5% over 20 years.
22 May 2018 In what must surely be a first for community energy, new investors buying shares in Welsh community wind project YnNi Teg will also receive a unique item of ethical, sustainable clothing: a new pair of “powered-by-wind” pants sourced from Greenfibres.com.
YnNi Teg (Welsh for “Fair Energy”) got the idea of offering free pants after reading about the ethical issues concerning clothing production, such as conditions for workers, pesticide use and pollution. Underwear is a particular problem as it is the one type of clothing that people will always want to buy new.
The sustainable underwear is 95% organic cotton, made by Greenfibres, and comes in ladies’ and gents’ versions in various sizes. A competition was held on social media to chose the slogan, with the winning entry “Powered by Wind” printed on the underwear in Welsh and English.
Jeremy Thorp, Director of YnNi Teg, said: “It can be challenging bringing our community wind offer to the attention of potential investors in an ethical and sustainable way. Offering merchandise is one way of attracting attention, and everyone always needs pants, so we set out to produce some which are ethical, practical and amusing. Our new investors can say pants to climate change by showing their support for community-owned wind energy!”
To coincide with Community Energy Fortnight, all new applications to join YnNi Teg before July 8th will receive a free pair of the underpants, aubergine for men and black for the women’s style. But pants aren’t all you get. Investors will also earn a target annual rate of return on their investment of 5% over 20 years, with a minimum investment of just £100.
A community benefit fund is also being set up and surplus revenues will go to Community Energy Wales, a Social Enterprise that helps and supports community groups across Wales to get community-owned renewable energy projects off the ground.
The 900kW wind turbine in Carmarthenshire has been meeting its targets of generating clean, green electricity since last summer, and is one of the last UK onshore wind projects to be underpinned by the Feed-in Tariff government subsidy.
To find out more, and download a share offer document, please visit http://www.ynniteg.cymru
NOTES TO EDITOR
Photographs show the Directors of YnNi Teg modelling the men’s underwear. Left to right: Dan McCullum, Jeremy Thorp and Rob Proctor. Other images are available. Please contact us for high-res versions of the photos.
The black ladies’ briefs are available in sizes XS, S M L XL, while the men’s aubergine boxer briefs come in S M L XL. Journalists, please contact us if you would like a sample.
They are made from 95% organic cotton, 5% Elasthane.
Sophy Fearnley-Whittingstall, SFW Communications: firstname.lastname@example.org or 07979 368238
About YnNi Teg
YnNi Teg Cyf is a Community Benefit Society. This is a form of Registered Society which is registered with the Financial Conduct Authority.
A Registered Society has members, and a board which is elected each year at an AGM by the members.
Our members will be everyone that buys shares in our society. We have a board of founder directors who have set up the society and managed it through the construction phase.
The society is run according to a set of rules, which have been approved and registered with the Financial Conduct Authority. These rules cover issues such as who can be a member, how board meetings and general meetings are run, what quorums are necessary, how many directors should be on the board and so on. You can download a copy of our rules from our downloads page.
YnNi Teg Cyf has a strong link to Community Energy Wales. It was the board of Community Energy Wales that were offered the site and set up YnNi Teg as a suitable trading platform from which a wind turbine could be operated. Now that YnNi Teg has been set up, it is an independent autonomous organisation but with a letter of intent between the two organisations committing part of the surplus profit from YnNi Teg to be gifted to Community Energy Wales to help support its work with community groups in Wales.
The current board of YnNi Teg are all directors or employees of Community Energy Wales, but it is expected (and hoped) that once YnNi Teg has shareholder members, that some of these members will stand for election to the board.