As a co-operative our members help us unlock new ideas, projects and opportunities. With over 2000 members, mostly from the local area, we’re proud to be backed by a community committed to climate action.
Hepburn Energy is still open for new member shareholders to join our community enterprise. Locals can buy in for a minimum of 100 shares and non-locals can join up with 1000 shares. To find out more about becoming a member please see our New Member Information Booklet.
For any questions please email community@hepburnenergy.coop or phone (03)5348 6760.
As a Hepburn Energy Member, your investment is not only good for the planet but good for you. As a member you will receive:
As part owners of the Hepburn Energy co-op, members are responsible for their shareholding and need to comply with the Cooperative Rules and maintain “active” membership. To maintain active members must either:
Members are also responsible for keeping important shareholding details up to date. Without these details we can’t contact you regarding important activities like our AGM, Annual Reports or dividends.
If you would like to become a member, you must review the Hepburn Energy Rules and Disclosure Statement and ensure that you meet the active member requirements.
In 2023 the board determined to deliver a member return of a dividend fully franked of 4.3 cents per share, and an allocation of approximately $200,000 for the share repurchase pool.
The 2023 dividend was paid May 18. All members received dividend statements either via email or post.
For the 2023 dividend there were four options:
The default participation option (unless altered for a previous dividend) is to receive your dividend in your nominated bank account.
You can check your elected participation method by contacting community@hepburnenergy.coop.
The 2023 share buyback pool was approximately $200,000. Participation in the Member Share Buy-Back was voluntary. The scale-back calculation reached 22.17% of all participating shares.
As a Hepburn Energy Member, your investment is not only good for the planet but good for you. As a member you will receive:
As part owners of the Hepburn Energy co-op, members are responsible for their shareholding and need to comply with the Cooperative Rules and maintain “active” membership. To maintain active members must either:
Members are also responsible for keeping important shareholding details up to date. Without these details we can’t contact you regarding important activities like our AGM, Annual Reports or dividends.
As a member it is your responsibility to know the rules and meet your active member requirements.
Hepburn Energy manages our share registry of close to 2000 members. The registry is hosted on the Syndex online platform.
Syndex is a privately owned, online investment platform. The Syndex software runs on secure infrastructure that follows rigorous international standards, such as ISO 27017 for cloud security and ISO 27701 for privacy information.
Soon, Hepburn Energy members will have access to an online portal where membership and shareholding details can be viewed and managed. Stay tuned to your member e-news for updates.
If you have any questions about or would like to make changes to your membership & shareholding, you can contact community@hepburnenergy.coop
Please note, the Hepburn Energy online portal is not yet live.
During this transition period, members cannot view their membership or shareholding details online. If you have any questions or require an update to your shareholding or membership details please email community@hepburnenergy.coop or phone (03) 5348 6760.
Hepburn Energy is committed to benefiting our members. As a member and shareholder you will receive returns when they are financially prudent.
Dividends and other member returns, such as Buy-Backs, are assessed by the board every second year, as was voted by members in our 2017 Member Perspectives Survey.
As a cooperative, we have a fixed share price at $1.10 (share price $1 plus $0.10 premium). The premium was applied from 1 July 2011 and is still valid. Previous to this the share price was $1.00 (back to commencement in 2009).
As Hepburn Energy is a Cooperative, you cannot sell shares as you would on the commercial share market. Being a part-owner of Hepburn Energy, if you wish to sell your shareholding you are responsible for doing so and you will need to find a buyer.
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If you would like to close your shareholding without selling your shares, another option is to donate your shares back to Hepburn Energy. If you would like more information on donating shares and becoming an Associate Member (non-financial) please email community@hepburnenergy.coop
To assist members at this difficult time, we have instigated simple procedures to ensure the transfer of shares from deceased estates to beneficiaries.
Please view the Hepburn Energy Shares Deceased Estate Information Booklet for guidance and contact community@hepburnenergy.coop for any further support.
Forms required for the process:
As a co-operative Hepburn Energy is owned by its members, numbering almost 2000. Just over half of Hepburn Energy’s members identify as local.
Since each member receives a single vote at meetings, all members have an equal say. To ensure that the interests of the local community remain paramount, the board aims to maintain majority local ownership.
Yes. You can join the co-operative directly or connect with existing shareholders via the platform Shareconnect. To find out more please view our New Member Information Booklet and for further questions please email community@hepburnenergy.coop
Hepburn Energy manages our share registry of close to 2000 members. The registry is hosted on the Syndex online platform.
Syndex is a privately owned, online investment platform. The Syndex software runs on secure infrastructure that follows rigorous international standards, such as ISO 27017 for cloud security and ISO 27701 for privacy information.
Soon, Hepburn Energy members will have access to an online portal where membership and shareholding details can be viewed and managed.
Members should subscribe to our newsletter and are encouraged to follow us on social media and where possible, participate in AGM’s. Please note as a member it is your responsibility to maintain active membership which includes maintaining your current email with our newsletter.
If a member does not have an email they should request to be on a ‘mail only’ list for important documents.
Members benefit in many ways including financial rewards through dividends, updates on local sustainability programs and less tangible benefits like empowerment to support climate mitigation.
Your SRN is your Securityholder Reference Number (also known as your Holder Number) provided to you when you became a member shareholder with Hepburn Energy. It can be found on your Statement of Holding. If you have misplaced your details please contact community@hepburnenergy.coop for assistance.
Please note, the Hepburn Energy online portal is not yet live and as such members cannot currently view their membership online. If you have a question or require an update to your membership shareholding please email community@hepburnenergy.coop or phone (03) 5348 6760.
Statements of Holding are provided to shareholders at the start of their membership. Dividend statements are emailed (or posted for ‘mail only’) to members on the date of payment.
The Syndex platform stores statements since the registry transition date 01/02/23. If you would like a statement generated since this period please contact community@hepburnenergy.coop. When the online portal is live these statements will also be accessible at any time online.
Historical Dividend Statements were emailed to the point of contact directly from our past service registry provider Link Market Services when the payments were made and are not stored on our new registry platform.
Hepburn Energy is not in a position to provide valuations for shares in the co-operative. Please speak to your financial advisor.
However, as a co-operative, we have a fixed share price for people to purchase shares at $1.10 (share price plus $0.10 premium). The premium was applied from 1 July 2011 and is still valid. Previous to this the share price was $1.00 (back to commencement in 2009).
Hepburn Energy receives income from the sale of the electricity generated by the wind farm and associated renewable energy certificates. The project’s cash reserves will be limited in the early years due to debt service obligations and weak market prices.
The board is responsible for recommending the level of rebates and dividends to members for approval at the Annual General Meeting. The directors anticipate that the majority of earnings will be paid to member shareholders as rebates or dividends after making allowance for expenses, working capital, taxation and the contribution to the Impact Fund.
Returns received from Hepburn Energy will likely be a combination of dividends, rebates and capital returns. These returns will generally be taxable under the Australian taxation system. It is currently forecast that the project will generate few franking credits in the early years of the project.
As every individual’s taxation situation is different, members should seek their own legal and tax advice before investing. We hope you understand that we are not in a position to provide tax advice.
The Hepburn Energy board has committed to review the position of the co-op with the view to pay a dividend or return of capital (RoC) to members every 2 years (a timeframe set after consultation with members as part of a 2017 survey).
Dividends to date have been paid on 17/6/2019 (2.6c), 5/3/2021 (2.7c) and 18/05/2023 (4.3c).
Hepburn Energy is a Cooperative and unlisted, so you cannot sell shares as you would on the Australian Securities Exchange Limited (AXS). As a part owner of Hepburn Energy, if you wish to sell your shareholding you are responsible for doing so.
There are two avenues in which you can sell your shares; you could find a buyer directly yourself or you can connect to potential buyers through Share Connect, an off-market share vendor site that Hepburn Energy has partnered with. You can then complete a shareholding transfer, which includes completing a New Membership and Transfer Share Application form and paying the $50 administrative fee. Please see our Selling Shares Information Booklet for further details on the share sales and transfer process.
If you would like to close your shareholding without selling your shares, another option is to donate your shares back to Hepburn Energy. If you would like more information on donating shares and becoming an Associate Member please email community@hepburnenergy.coop
Throughout planning, development and our ongoing activities, Hepburn Energy has created opportunities for meaningful community participation with the Energy Park.
In our early days of establishment, founders ran street stalls, attended local events, conducted home visits, went out to local and regional media and engaged local sustainability groups.
Developing the solar farm we have worked closely with our local neighbours. Public community engagement was delayed by COVID-19 and information has been circulated in the news, via partnership programs and with community groups and representatives.
A co-operative is similar to a public corporation, in that it is incorporated, issues shares and has the powers of a natural person.
Whereas the primary responsibility of the board of a company is to maximise the financial return to shareholders within the boundaries of the law, co-operatives are established for the benefit of their members.
Members of a co-operative are generally the co-operative’s customers. In the case of Hepburn Energy, as the co-operative is not an energy retailer, members become customers indirectly through arrangements with Flow Power Powershop. The member’s benefit is only partly realised by the payment of dividends or rebates. In this case, Hepburn Energy provides its members, the local and broader Australian community with the additional benefit of producing emissions-free electricity.
Unlike companies, co-operatives are democratic institutions. Regardless of the number of shares any one shareholder owns, the shareholder always has one vote at meetings. For example, a member investing $100 has as much say as a member investing $100,000.
Hepburn Energy has created a community benefit model that has received local and international recognition.
For eight years we hosted a Community Fund with a $20,000 annual pool. The Community Fund supported small community grants, our energy fund, neighbourhood benefits and event sponsorship. In 2019 we moved to a new model, the Impact Fund.
The Impact Fund works with community groups or aligned organisations to develop large legacy projects. Projects have included the development of a schools climate change curriculum and supporting regenerative forestry in Trentham. You can find out more here (link to Impact Fund).
We have also benefited our community by attracting significant State Government investment for our shires zero-net emission transition.
The Impact Fund is designed to support our shires’ transition and enhance local resilience. Impact Fund projects can be co-designed with community groups or other partners where appropriate. If you have a project in mind, please read through the Impact Fund guidelines first to see if your project is a good fit.
Yes. Hepburn Energy is a co-operative incorporated under the Co-operatives National Law (CNL). The CNL imposes standard accounting and auditing requirements on co-operatives similar to those imposed on companies.
Our financial statements form a part of our Annual Report which is lodged with the Victorian Registrar of Co-operatives in accordance with the CNL. You can find these Reports under the ‘Official Member Documents’ section of this page.
Hepburn Energy has been financed by a combination of State Government grants, member capital and bank loans.
Hepburn Energy is a key partner in Hepburn Z-NET Community Transition Pilot which aims to reach zero-net energy by 2025 and zero-net emissions by 2030. Hepburn Energy is well placed to contribute to the 2025 target as the co-operative has both the technical capacity and physical infrastructure needed to build a mid-scale solar farm. This solar farm would more than double Hepburn Energy’s renewable generation capacity and would benefit our co-operative members with stronger financial returns.
Solar is a highly efficient way to produce electricity and combined with wind, the energy profile will be far more consistent than if it were solar or wind alone.
Our founders were determined to build a renewable energy project that would supply a significant portion of the local electricity demand. The maturity of commercial wind turbine technology, coupled with our above-average local wind resource made a wind farm the obvious choice.
Typically wind turbines operate for 25 years but require increasing maintenance as they age. New technologies are enabling old wind turbines to be recommissioned and remain effective for longer periods.
In the initial planning permit for the wind farm the following studies were undertaken: Flora, Fauna, Wind energy, Cultural heritage, Landscape and visual assessment, Shadow flicker/blade glint, Noise impact (pre and post-construction), Geotechnical, Electricity grid connection, Electromagnetic interference, Aviation.
As part of the solar development the following studies have been undertaken: Review of Ecological Assessments, Energy Yield Assessment Power System Study, Bess Feasibility Study, Noise Assessment, Bushfire Risk Assessment Report & Mitigation Plan, Geotechnical Investigation and Development Plans. You can view these here.
Hepburn Energy is governed by a board of seven directors, elected by the member shareholders at the Annual General Meeting (AGM) based on the co-operative principle of ‘one member, one vote’.
All members 18 years and over may nominate for a directorship in the period before the Annual General Meeting, as prescribed in our rules.