The project

Young Henry has a 33kW solar project on the roof of their Brewery in Newtown. It covers roughly a third of their total consumption! 

Community funded

Solar power for Young Henrys is being funded by the local community, the Pingala community and Newtown locals. Young Henrys pays for the solar electricity generated for 10 years post installation and this revenue stream will repay the community investors with an attractive rate of return between 5 to 8% p.a. through the Pingala Co-operative.

The Pingala Co-operative offered shares valued at $1 in packets of 250, with a maximum of 4 share-bundles per person. We had 54 people able to invest in the Young Henrys Project and their names are now on the wall in the tasting bar!

Pingala investors

Community members who invested in the Pingala Co-operative will become members as well as shareholders in the Co-op. This means they became co-owners of the Pingala Co-operative.

The Pingala Co-operative seeks to deliver dividend payments to its members of between 5% and 8% per annum. The Board of Directors of the Co-operative have discretion to determine the dividend to be paid each year and they have fiduciary responsibility for managing the Co-operative for the benefit of member-shareholders.