Co-op Values and Rules
A co-operative society operates much like a traditional limited company except that the voting rights are distributed equally amongst the members, regardless of the number of shares held. Boyndie Co-op is an Industrial and Provident Society registered with the Financial Services Authority under the Industrial and Provident Societies Act 1965 (number 2655R).
As such it is a co-operative owned by and managed for the benefit of its Members, who are protected by limited liability status. Its constitution is in the form of Rules approved by and registered with the Financial Services Authority. The Rules of Boyndie Co-op can be found here: Boyndie Wind Farm Co-op Rules
Key characteristics of Boyndie Co-op, as a co-operative, are:
A single class of shares with a nominal value of £1
All Members have one vote regardless of how many shares they hold
No Member, except another Industrial and Provident Society, may hold more than 20,000 shares
The Board is elected by the Members
Only Members are eligible to serve on the Board.
The objects of the co-operative shall be to carry on as a bonafide co-operative, for the benefit of its members, the business ("the Business") of:-
The development, management, generation, transmission and supply of electricity from renewable energy sources;
The conservation of energy through advice on energy efficiency including energy efficient products and the supply of energy efficient products and such other activities of a general commercial company as the members shall agree by amendment to these Rules from time to time; and
The promotion of awareness of environmental and related issues and support for educational initiatives related to renewable energy.
The governance of the co-operative is vested in the Board. The Board shall be elected each year at or by postal ballot prior to the Annual General Meeting.
We are guided by the co-operative principles and values as set out by the International Co-operative Alliance:
Self-help and self-responsibility
Members work together to support the wind farm while taking shared responsibility for its success and sustainability.
Democracy and Equality
Every member has an equal voice in decision-making, ensuring the cooperative is run fairly and transparently.
Honesty and Openness
The co-operative operates with clear communication and openness about its activities, finances, and environmental impact, and shares this regularly through the website and AGM.
Social Responsibility
The wind farm aims to benefit the wider community by promoting renewable energy and reducing environmental harm.
Autonomy and Independence
The cooperative is independently owned and controlled by its members, allowing decisions to reflect community interests.
Member Economic Participation
All members have the opportunity to have a say on the future and financial direction of the co-op.
Opportunities for Education
Boyndie wind Farm co-op haspositive ties to local schools and more information on Boyndie Wind Farm co-op’s funding can be found here can be found here.
Concern for Community
Funds are reinvested back into the community through the Community Fund, this is used for environmental and education.
Co-operation among Co-operatives
We are part of the Energy4All network along with more than 30 other co-operatives who we can learn from and share resources with, including several other shared ownership wind farms in Scotland.
