NSW start-up plans to become Australia’s first community-owned renewable energy retailer – as well as cheapest – hoping to win local support..ahead of a public share offer.
Enova Energy, formed last year by residents from Northern Rivers Region, aims to retail renewable electricity, while also providing advice and professional services for those who want to install solar, and/or leave the grid entirely. It also hopes to generate decent returns for investors…not-for-profit group behind the venture, Enova Community Ltd…prepared a detailed prospectus for an Initial Public Offering (IPO), and host series of information events throughout the Northern Rivers region in coming weeks. Not short on ambition, Enova Energy wants to offer cheapest retail price for green electricity in Australia, pay highest feed-in tariff for rooftop solar exported to the grid, and provide consumer-targeted advice and technical support for people who want to go off-grid completely. However, company concedes.. only proceed.. if capital .. can be sourced ..local community.