Community hydro-projects in Wales, UK, with a rateable value of up to £50,000 will receive a 100% rates relief under a new grant scheme announced by the Cabinet Secretary for Energy, Planning and Rural Affairs Lesley Griffiths.
The business rates relief will enable eligible projects to retain the maximum possible benefit for their local area, enabling them to re-invest into their local community.
The grant scheme will also provide support to cap the increase in business rates for other small-scale developments to 10% or £1,000 where there was no previous liability.
The new grant scheme, which will start in April, will provide greater support to hydropower developers in Wales than elsewhere in the UK. Work is under way with community developers and others to ensure it is easy to access.
It will be application based and hydro projects will be able to apply for a grant towards both their 2018-19 rates liability and retrospectively for 2017-18.
The Environment Minister Hannah Blythyn yesterday officially opened the ‘Welcome to Our Woods’ community hydro project in Treherbert, which is creating a low carbon outdoor space and facilities to generate income for the local community. It is an example of a project which will benefit from the new 100% rate relief.
The 100% non-domestic rate relief scheme for community hydro projects is part of the 2018-19 Budget agreement with Plaid Cymru.
