Ripple Energy wind farm?

Martyn1981

QrizB said:

Reed_Richards said:

A news article on the ill-fated Ripple Co-op 4: https://inews.co.uk/news/2000-wind-farm-bring-my-energy-bills-down-my-money-gone-3852211

Was Co-op 4 really promoted as "pay £2000, get £350-£500 pa back" as that article suggests one of the members expected? That's way more of a return than Kirk Hill was advertised at (or has ever earned).

thevilla said:

With the exception of project 4 (Whitelaw Bray) all projects have active boards working hard to find solutions to paying members.

Kirk Hill emailed today to inform us of a General Meeting in three weeks time. Hope to learn more about how things are going.

I invested just over £2k (about 3,000kWh worth), and I think my estimated return was ~£160 pa. But that's from memory.

phlebas192

QrizB said:

Reed_Richards said:

A news article on the ill-fated Ripple Co-op 4: https://inews.co.uk/news/2000-wind-farm-bring-my-energy-bills-down-my-money-gone-3852211

Was Co-op 4 really promoted as "pay £2000, get £350-£500 pa back" as that article suggests one of the members expected? That's way more of a return than Kirk Hill was advertised at (or has ever earned).

thevilla said:

With the exception of project 4 (Whitelaw Bray) all projects have active boards working hard to find solutions to paying members.

Kirk Hill emailed today to inform us of a General Meeting in three weeks time. Hope to learn more about how things are going.

No, certainly not. More like ~£80pa for electricity savings and ~£80pa return of capital. I didn't invest in Co-op 4 (other than bunging in the £25 advance registration I still had with Ripple) so I didn't look at the figures in detail, but certainly for Derril Water which I did invest in, the returns weren't noticably better than what could be obtained via a savings account (somewhat worse now given that DW is a year late in being switched on). If the person in that article really expected £350 to £500pa then they didn't understand what they were getting into - it was always more about partially hedging against rising electricity costs plus actually funding some new renewable generation as opposed to buying into an IT or similar.

thevilla

phlebas192 said:

QrizB said:

Reed_Richards said:

A news article on the ill-fated Ripple Co-op 4: https://inews.co.uk/news/2000-wind-farm-bring-my-energy-bills-down-my-money-gone-3852211

Was Co-op 4 really promoted as "pay £2000, get £350-£500 pa back" as that article suggests one of the members expected? That's way more of a return than Kirk Hill was advertised at (or has ever earned).

thevilla said:

With the exception of project 4 (Whitelaw Bray) all projects have active boards working hard to find solutions to paying members.

Kirk Hill emailed today to inform us of a General Meeting in three weeks time. Hope to learn more about how things are going.

No, certainly not. More like ~£80pa for electricity savings and ~£80pa return of capital. I didn't invest in Co-op 4 (other than bunging in the £25 advance registration I still had with Ripple) so I didn't look at the figures in detail, but certainly for Derril Water which I did invest in, the returns weren't noticably better than what could be obtained via a savings account (somewhat worse now given that DW is a year late in being switched on). If the person in that article really expected £350 to £500pa then they didn't understand what they were getting into - it was always more about partially hedging against rising electricity costs plus actually funding some new renewable generation as opposed to buying into an IT or similar.

I hope you already know DW is pending g99 approval before being switched on.  This has started but not quite finished.

Edit: I mean g99 testing.  Approval must have been years ago!

Reed_Richards

thevilla said:

Reed_Richards said:

A news article on the ill-fated Ripple Co-op 4: https://inews.co.uk/news/2000-wind-farm-bring-my-energy-bills-down-my-money-gone-3852211

It is a great shame that the co-op board members who have been working unpaid to salvage the Ripple investments weren't consulted.

With the exception of project 4 (Whitelaw Bray) all projects have active boards working hard to find solutions to paying members.  2 projects are generating profits and project 3 nears it's switch on.  Whitelaw Bay co-op board is trying to recoup money although I for one have claimed via chargeback.

In fairness, the article was specific to Whitelaw Brae (project 4) and the Co-op 4 board was consulted.  Yes, Ripple had overseen three previous projects that have achieved a successful outcome but as things stand, it looks as if some of that could have been done by dipping into funds that should have been ring-fenced as belonging to Co-op 4.  

thevilla

Reed_Richards said:

thevilla said:

Reed_Richards said:

A news article on the ill-fated Ripple Co-op 4: https://inews.co.uk/news/2000-wind-farm-bring-my-energy-bills-down-my-money-gone-3852211

It is a great shame that the co-op board members who have been working unpaid to salvage the Ripple investments weren't consulted.

With the exception of project 4 (Whitelaw Bray) all projects have active boards working hard to find solutions to paying members.  2 projects are generating profits and project 3 nears it's switch on.  Whitelaw Bay co-op board is trying to recoup money although I for one have claimed via chargeback.

In fairness, the article was specific to Whitelaw Brae (project 4) and the Co-op 4 board was consulted.  Yes, Ripple had overseen three previous projects that have achieved a successful outcome but as things stand, it looks as if some of that could have been done by dipping into funds that should have been ring-fenced as belonging to Co-op 4.  

I'm pretty sure the original article mentioned Kirk Hill.  Looks like they've updated it but still no mention that actually Ripple didn't ever 'own' any project.

phlebas192

thevilla said:

phlebas192 said:

QrizB said:

Reed_Richards said:

A news article on the ill-fated Ripple Co-op 4: https://inews.co.uk/news/2000-wind-farm-bring-my-energy-bills-down-my-money-gone-3852211

Was Co-op 4 really promoted as "pay £2000, get £350-£500 pa back" as that article suggests one of the members expected? That's way more of a return than Kirk Hill was advertised at (or has ever earned).

thevilla said:

With the exception of project 4 (Whitelaw Bray) all projects have active boards working hard to find solutions to paying members.

Kirk Hill emailed today to inform us of a General Meeting in three weeks time. Hope to learn more about how things are going.

No, certainly not. More like ~£80pa for electricity savings and ~£80pa return of capital. I didn't invest in Co-op 4 (other than bunging in the £25 advance registration I still had with Ripple) so I didn't look at the figures in detail, but certainly for Derril Water which I did invest in, the returns weren't noticably better than what could be obtained via a savings account (somewhat worse now given that DW is a year late in being switched on). If the person in that article really expected £350 to £500pa then they didn't understand what they were getting into - it was always more about partially hedging against rising electricity costs plus actually funding some new renewable generation as opposed to buying into an IT or similar.

I hope you already know DW is pending g99 approval before being switched on.  This has started but not quite finished.

Sure, the co-op board are keeping us well informed. They are doing a good job, especially considering that they aren't even getting paid so I've nothing but thanks for their efforts. As for Ripple, well, let's just say that I wouldn't trust any of them to deliver a pizza!

thevilla

phlebas192 said:

thevilla said:

phlebas192 said:

QrizB said:

Reed_Richards said:

A news article on the ill-fated Ripple Co-op 4: https://inews.co.uk/news/2000-wind-farm-bring-my-energy-bills-down-my-money-gone-3852211

Was Co-op 4 really promoted as "pay £2000, get £350-£500 pa back" as that article suggests one of the members expected? That's way more of a return than Kirk Hill was advertised at (or has ever earned).

thevilla said:

With the exception of project 4 (Whitelaw Bray) all projects have active boards working hard to find solutions to paying members.

Kirk Hill emailed today to inform us of a General Meeting in three weeks time. Hope to learn more about how things are going.

No, certainly not. More like ~£80pa for electricity savings and ~£80pa return of capital. I didn't invest in Co-op 4 (other than bunging in the £25 advance registration I still had with Ripple) so I didn't look at the figures in detail, but certainly for Derril Water which I did invest in, the returns weren't noticably better than what could be obtained via a savings account (somewhat worse now given that DW is a year late in being switched on). If the person in that article really expected £350 to £500pa then they didn't understand what they were getting into - it was always more about partially hedging against rising electricity costs plus actually funding some new renewable generation as opposed to buying into an IT or similar.

I hope you already know DW is pending g99 approval before being switched on.  This has started but not quite finished.

Sure, the co-op board are keeping us well informed. They are doing a good job, especially considering that they aren't even getting paid so I've nothing but thanks for their efforts. As for Ripple, well, let's just say that I wouldn't trust any of them to deliver a pizza!

To be fair they did deliver on 3 projects.  They appear to have been over optimistic on their growth plans. Also probably too focused on managing the projects and neglected the business.

Most small businesses fail unfortunately.

Exiled_Tyke

"To be fair they did deliver on 3 projects.  They appear to have been over optimistic on their growth plans. Also probably too focused on managing the projects and neglected the business.

Most small businesses fail unfortunately."

I agree with this. In addition it looks like they had an accountant who wasn't up to the job and when things got tough buried his head. The fact that accounts have taken so much unraveling points towards the incompetence.  May be without this mess they could have found a way out but it's all history now.