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PM gets shares in ecology project (From thisisoxfordshire)
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PM gets shares in ecology project
6:00am Saturday 25th July 2009
PRIME Minister Gordon Brown has become a shareholder in a West Oxford green power scheme he has described as inspirational.
Mr Brown was presented with his stake by delegates from Low Carbon West Oxford during a meeting at Downing Street.
He was told more about the group’s ambitious plans to tap into the River Thames to power homes.
As revealed in the Oxford Mail on Thursday, the group has set up a company, West Oxford Community Renewables, which is aiming to raise £1.4m to set up generators at Osney Weir, solar panels on buildings and wind turbines perched on Cumnor and Harcourt Hills.
Lois Muddiman of Harley Road said: “We awarded Mr Brown 10 shares and we will be sending him a prospectus, which he will have to sign as a shareholder.
“He said we were doing some very important work in the community which was inspiring.”
Mr Brown said: “I am grateful for the contribution that people right across the country make every day to their local environmental and wildlife projects. The inspirational work they do helps create a better world for us all.”
WOCR has generated political interest, with Ed Miliband, the Secretary of State for Energy and Climate Change, having previously met the group.
Liberal Democrat leader Nick Clegg has also visited members, while Oxford West and Abingdon MP Evan Harris, has bought £1,000-worth of shares.
Ms Muddiman added: “Interest has come from the fact that we are working from grass roots in the community.”
In August the first solar panels will go up on the roof of the King’s Centre building on Osney Mead industrial estate.
The next move is to target local businesses to drum up more cash for solar panels and wind turbines.
The ultimate aim is to ensure all 1,600 homes and businesses in West Oxford cut their carbon emissions by 80 per cent by 2050, in line with Government guidelines.
The groupwas set up in the aftermath of the 2007 floods.
asmith@oxfordmail.co.uk
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Your Say YourOxfordshire
dowhat, Oxford says...
7:41pm Mon 27 Jul 09
"This is a risk investment. Your shares will not increase in value and they may decrease in value. The Directors intend to pay a low rate of interest on shares however it is not anticipated that this will be possible for the first five years at least. Any investment should be regarded as an investment for social and environmental benefit rather than financial benefit.
"Your investment gives you a voting right which will allow you to participate in the operation of WOCR. The Society will operate on the ‘one member, one vote’ principle whereby all investor members will have one vote regardless of the size of shareholding."
They are operating as an Industrial and Provident Society.
Lois Muddiman, Barbara Hammond and Ruth Mayne
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Andrew:Oxford, Oxford says...
12:28pm Sat 25 Jul 09
This'll end up costing the country a fortune in administration.
The PM will have to declare these as a gift and a material interest No doubt that they will also have to transferred into some form of "blind" trust in due course.
The idea of generating electricity using millions of litres of water that pass through oxford is a great one - but ladies please think beyond the headlines.