YnNi Teg
Carmarthen
YnNi Teg develops and builds renewable energy generators in Wales, funded by community shares.
‘YnNi Teg’ means ‘fair energy’ in Welsh. It is also the name of a community energy project in Carmarthen with a 900kW wind turbine, built in 2017. The turbine generates enough energy to power 650 homes.
YnNi Teg is a Community Benefit Society, meaning shares in the society are owned by individuals around Wales, the UK and internationally. Member shareholders are part-owners of the turbine and receive 4% interest, as well as electing the YnNi Teg board. The surplus income for the project is split between a fund, which will be spent in consultation with the local community, and Community Energy Wales, a social enterprise.
YnNi Teg hopes to build new renewable energy projects in the future. In 2017 YnNi Teg won the Sustain Wales/Gwobrau Cynnal Cymru Community Energy Photo Award. The society says: “Our mission is to help Wales develop a clean energy future, mitigate climate change by installing renewable energy generation, and to do this in a fair and democratic way by spreading the ownership and benefits across the community rather than concentrated in the hands of the few.”
Tags Worker co-operatives Community energy Green transition
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New rules needed
Policies that can help unleash the potential of this or similar initiatives across the UK.
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Start inclusive ownership funds
An economic heartbeat that transfers the ownership and control of businesses to workers and other key stakeholders. -
Introduce a Sustainable Economy Act
Climate change laws should be extended to set binding targets to protect all aspects of our environment. -
Introduce a maximum pay ratio
Executive pay has become divorced from reality. A pay ratio will spread wealth and reduce inequality. -
Launch a Co-operative Development Agency
A network of support and capacity building to develop and extend the capabilities of the co-operative movement. -
Implement an employee right to own
Co-operatise existing businesses to accelerate new models of ownership and increase the volume of the co-operative sector in the UK. -
Finance a Green New Deal
Government-led investment is vital – here are five ways to pay. -
Introduce a Co-operative Economy Act
A legal framework tailored to the needs of co-operatives and supportive of their future development. -
Create devolved ‘just transition’ funds
Government should devolve a proportion of its Green New Deal budget to support local just transition plans. -
Create new sources of finance for co-ops
Create financial instruments and institutions tailored to the needs of the co-operative economy. -
Promote community wealth building
Support co-ops to thrive in their localities by anchoring them within place-based industrial and community wealth building strategies.
