When investing in a farm diversification project such as renewable energy, much of the effort goes into identifying sources of funding and ensuring that the projected cashflows and returns are viable. These are important elements in any project but we are of the opinion that a more structured approach to take account of tax benefits, inheritance tax liabilities, re-investing any profits, reducing liabilities and pension planning should also be given due consideration in this process. With many of our clients now benefiting from having an alternative source of farm income in place, it has been brought to our attention that a more prudent business planning process can help to optimise returns and free up cash for other investment opportunities.
The GreenYard, as part of our FarmEnergy NI service, is now providing financial planning advice to clients in the process of installing a wind turbine or who have already done so. This advice is provided by an independent financial consultant and is free to those who trade their ROCS and Green Energy via FarmEnergy NI. As a result of good advice, we now have clients investing in shares in renewable energy projects with other landowners or on a second project on their own farms. This approach is helping to keep the returns within the farming community and making projects happen much more quickly.
If you wish to optimise your returns or re-invest in other projects, contact us and we can arrange a meeting with our consultancy team.