Small Wind Co-op has launched second tranche of shares to fund the installation of community wind turbines in Scotland and Wales.
The offer calls for the minimum investment of £100 and averages annual returns of 6.5% over 20 years, as well as generating a community fund of £3,000 a year (index-linked).
It is the first time a community energy project has brought together wind projects in different countries within the UK.
Work is now underway on building turbines at Scottish locations Wemyss Bay and Inverclyde, and in Ceredigion in Wales.
First share offer this summer met its target of £1m with over 300 members and the second tranche aims to raise £550,000. It sets £100,000 aside for local investment until 1 November, giving priority to people living within 20 miles of both projects.
Jon Halle, director of the Small Wind Co-op, said: “We’re building on that momentum with our second offer and we really want to encourage those living in the vicinity of the turbines to join our supporters from across Scotland and the UK.”
The project has attracted support from the leader of the Wales Green Party Alice Hooker Stroud, who said: “Congratulations to everyone involved with the Small Wind Co-op.
“Initiatives like this give local people a chance to invest in their communities and a clean energy future. To have raised £1m already is a fantastic achievement, and it’s exciting that people are being given another opportunity to support this great project.”
Scottish National Party’s Stuart McMillan said: “The impressive levels of electricity generated from wind recently are evidence that we should be investing in Scotland’s enviable potential for a clean and reliable source of energy for our future
“The Scottish Government will ensure that by 2020 at least half of newly consented renewable energy projects will have an element of shared ownership like this one and we will argue for Scottish control of our share of feed-in tariffs to help promote community ownership schemes.”
Small Wind is an energy co-op started by Sharenergy, and has helped people set up over 30 successful renewable energy organisations in the past seven years.
It will be contributing to local community funds to support others who live near our turbines, helping local people into employment and supporting community buildings.
In this article
- Alice Hooker Stroud
- clean energy future
- community energy project
- Community wind energy
- energy co-op
- Energy development
- Renewable energy
- Renewable energy in Scotland
- renewable energy organisations
- renewable energy projects
- Scottish Government
- Scottish National Party
- Small Wind Co-op
- Stuart McMillan
- Sustainable energy
- United Kingdom
- Wales Green Party
- Wemyss Bay
- Wind power
- Wind power in Scotland
- Wind turbine
- United Kingdom
- Top Stories