REIC was established by Dulas Ltd and Groundwork Bridgend & Neath Port Talbot in September 2001.  REIC is run by a board of directors with input from an advisory panel and sponsors, and was set up to facilitate and increase the uptake of community renewable energy projects by simplifying the process of and reducing the cost of offering shares in a development.  In the past the costs and bureaucracy involved in producing a share offer would be prohibitive for small schemes such as the Dulas Valley wind turbine.

REIC enables local people to have a real stake in sustainable energy initiatives such as solar, wind, tidal, hydro or biomass, by linking them with the renewable energy developers and providing a mechanism for investment in approved projects.  The concept is to enable new ways of involving local people in investment, clean electricity use, and generation.

The Club provides individuals, community groups and businesses with opportunities to invest directly in sustainable energy projects in their locality, which make a direct contribution to improving the environment and local economy.

Potential investors can register as members and receive information about projects in which they may wish to invest.  Through the Club, renewable energy developers are able to secure local support, through investment and ownership.

REIC aims to recruit over 2000 members and is seeking to invest a minimum of 540,000 euros in new renewable energy developments.  The Club is a not-for-profit organisation, with the original setting-up costs partially covered by grants from the European Commission, Countryside Council for Wales and the Welsh Development Agency.

Members of the Renewable Energy Investment Club