Frequently asked questions about public participation

A co-operative society (or co-op) is a legal entity that allows a large group of people to unite around a common project or cause. ‘Storm CV’ is a recognised co-operative society – i.e. in accordance with the Belgian law of 20 July 1955 establishing a National Council for the Co-operative and the Royal Decree of 8 January 1962 establishing the conditions for recognition.

The funds garnered by Storm CV are directly invested in Storm wind farms that are under construction or already operational. That way, each co-op member contributes to the sustainable energy transition.

In some cases, it may take a while for a wind farm in your city or municipality to get fully licensed. That’s because of the extensive permit or appeal procedures involved. There could be a gap of several years between the moment the intention to build a wind farm is announced and when the permit application gets greenlit so you can eventually join the co-op. Please note: Storm CV only invests in wind farms that already have the necessary final and enforceable permits and are fully construction-ready and secure. Storm CV is not subjected to any permit-related risks.

As soon as we’re opening new registrations for Storm CV, those who live near the project zone will receive an invite in the mail to join the co-op. When a new registration period starts, a link will appear on the homepage of the Storm website. You then have one month to register.

Only physical persons can join the co-op. The specific goal behind Storm CV is to allow inhabitants of the cities and municipalities where Storm wind farms are built to share in the profits. That’s why share ownership is reserved for those local communities. For wind farms bordering on one or more other municipalities nearby, the governing board may decide to also give the residents of those neighbouring districts the opportunity to join in.

If too many people sign up for Storm CV, the governing board can make the call to offer each prospective registrant a proportionate part (pro rata) of the requested shares. The board may also decide to end the registration period earlier or to increase the cost of the shares.

No, there aren’t any sign-up or exit fees. As a co-op member, you only pay for the shares you purchase.

You must hold shares in Storm CV for at least five years. After five full years, you can sell them to a buyer of your choice. If you cannot find a buyer yourself, you can exit and receive the value of your shares, but this is only possible after a new share issuance. From the tenth year onwards, there is more flexibility, allowing you to exit and receive the value of your shares without the need for a new share issuance.

Anyone wishing to make use of this exit option must submit their application to Storm CV in the first half of the year (unless you can present a buyer yourself, in which case this can be done at any time). Moreover, you are always free to transfer your shares at any time to your spouse, legally cohabiting partner, or certain other family members (such as children).

Cooperative shares generally entitle you to an annual dividend, but not to any capital gains. If you sell your shares, this will be done at the purchase value (125 euros per share). Any transfer or exit must always take into account the provisions of Storm CV's articles of association.

No worries. If you bought shares and then moved to a municipality that is not eligible to participate in Storm CV, you can just keep your shares. The only thing that matters to be able to participate is your residential address at the time of registration.

If a shareholder dies, their heirs inherit the shares. They may have to pay an inheritance tax. If the heirs are already co-op members of Storm CV, the maximum limit of 24 shares per person can be lifted for them (exceptionally and only if necessary in the context of an inheritance). That way, they can still become the holders of any additional shares. If the heirs wish to sell those shares, the same rules apply as if they had originally bought them (only possible after five or ten years at the earliest).

Each physical person can individually buy up to 24 shares, totalling €3,000 (€125 per share). In a family with several interested parties, each individual family member can only buy a maximum of 24 shares per person. Please note that all participating family members must be registered to an address eligible for entry in Storm CV.

You may expect a yearly return of 4% to 6% from Storm CV. Legally, 6% is the maximum return that a certified co-operative can distribute to its shareholders. The minimum return of 4% is not guaranteed, but based on our contract figures available so far, that return is achievable every year. Storm CV has consistently paid a 5% dividend since its inception in 2014. It’s why we can proudly call ourselves the energy co-operative with the highest dividend yield in Belgium.

Storm CV makes the funds raised available, in the form of subordinated loans, to the Storm project corporations operating onshore wind farms in Belgium. Those project corporations pay an annual interest rate of 6% on their loans. Storm CV repays the sums it receives in this way – after deducting the costs incurred (accounting, company auditor, communication, event organisation, etc.) and after building up the legal reserve. The pay-out takes the form of a dividend provided to shareholders at the initiative of the general assembly (GA).

Dividends are paid out every year in the month of June. This is done after an official go from the co-op members at the general assembly, to which you, as a member, are always invited. The dividend is deposited into the account number you entered when you registered.

As a Belgian physical person, you don’t pay taxes on dividends up to an indexed maximum amount of €800 a year. Storm CV pays out a maximum of 6% of €3,000 a year (= €180), so it falls under this tax exemption. There is, however, withholding tax: Storm CV must deduct 30% withholding tax when paying out dividends; the standard rate is 30%. From the second financial year after acquiring the shares, this rate is reduced to 20%, and from the third financial year, it is further reduced to 15%. You can reclaim this withholding tax as a cooperative member in your tax return the following year. Cooperative members receive a tax certificate through Storm CV’s administrative partner, Hefboom.

The general assembly of shareholders, which you automatically are part of as a co-op member, decides each year on the payment of the dividend following the approval of the annual accounts.

As a shareholder, you will always get an invitation to the general assembly (via your registered e-mail address or by post). You don’t have to attend. The regular general assembly takes place on the second Saturday of May at 10 AM at the location mentioned on the invite. Each cooperative member has one vote per share. Can't attend? The annual report will be freely available on the Storm website afterward.