The steps taken to develop Ecodynamic are:
- Establishing and registering a Community Benefit Society (the Society), called Ecodynamic Community Benefit Society Limited, with the Financial Services Authority (FSA).
- An Engineering, Procurement and Construction (EPC) company was selected, specialising in the low-carbon generating equipment for the target install area.
- Ecodynamic was made investment-ready, through a business plan, website and share offer document.
- The project is marketed to potential members (investors) who are invited to join and invest in the Society via online or postal application.
- When the target investment level of £350,000 is reached, Ecodynamic will purchase Croft West Wind Turbine, which should be operational during February 2013
- Each member has one vote.
- The project will be installed and the equipment commissioned in February 2013 – generating low carbon electricity, attracting a quarterly Feed in Tariff (FiT).
- Interest paid on shareholdings is distributed to members annually, in arrears.
- All the steps taken so far to get to this stage have been funded by Croft West Ltd, a wholly owned subsidiary of the Biodynamic land Trust