MEDIA RELEASE

March 12 2015

WEL Energy Trust launches new funding scheme

WEL Energy Trust has ring-fenced $400,000 for a new scheme to support smaller community projects.

The new initiative, dubbed Quick Response Grants, will make up part of the $2.65 million the Trust plans to distribute to the wider community in 2015-16.

Raglan groups will be eligible to apply.

The Trust will continue to support WEL Networks providing discounts to its customers via electricity bills. It will also continue to offer larger targeted funding grants and has added additional funding rounds in March, June and September. Previously there had been only one funding round each August.

Up to $5,000 at a time will be made available via the new Quick Response Grants with five allocations each year. Groups can apply for either a quick response grant or a larger grant but, unless there are exceptional circumstances, can only receive one grant in any calendar year.

WEL Energy Trust chair Mark Ingle said the new scheme responded to feedback that indicated small amounts of money, provided quickly, would give groups more flexibility.

“This is very much a responsive fund and is not designed for large capital projects or major operational support. It is to provide quick support to a wide range of worthwhile grass-roots projects, rather than major support for a few organisations,” he said.

“We know many community-based groups are poorly resourced and this mechanism will allow them to apply for funding at a time of the year that suits them best, rather than having to suit our timeframes.”

Mr Ingle said the Trust has received strong support for the initiative and was anticipating around 100 applications this financial year.

“It’s important we allocate larger grants very strategically to get maximum impact for the community. That kind of strategic allocation is becoming more and more important for the Trust,” he said.

“However we know that responsive funding is also important in terms of community outcomes. At least two other community funders in New Zealand have implemented similar quick response schemes and they are working well.”

Applications for the new Quick Response Grants must be completed online with forms live from mid-April at www.welenergytrust.co.nz. The first funding allocation will be into the community by June this year.

WEL Energy Trust was formed in 1993 and owns WEL Networks Ltd on behalf of the community. WEL Networks owns the electricity lines and equipment in Hamilton, most of the Waikato district and a small part of the Waipa district.

Since it was formed WEL Energy Trust has invested nearly $60 million in community and energy efficiency grants. It has also supported WEL Networks to return more than $240 million to WEL Networks customers through electricity bill discounts.

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