Energy co-operative reaches £2m in share offer

Four Winds Energy Co-operative has passed the half-way mark in its multi-million pound share offer. The co-operative, which has been set up by Energy4All, was established in July...

Four Winds Energy Co-operative has passed the half-way mark in its multi-million pound share offer.

The co-operative, which has been set up by Energy4All, was established in July 2013 to develop suitable sites for wind turbines on land that has been used for mining in Yorkshire, Derbyshire and Lancashire.

Almost £2m has been raised so far to develop two wind turbines, one near Duckmanton and the other between Grimethorpe and Cudworth.

Four Winds is developing co-operatively owned wind turbines on former colliery sites, with the aim of bringing benefit to the local communities. Shares are open to everyone, with special priority given to local people wishing to invest.

Four Winds has planning consent to develop a 500KW wind turbine at Duckmanton near Chesterfield and a second 500KW wind turbine between Grimethorpe and Cudworth, called Shafton. Income will be derived from the Feed in Tariff.

Marna McMillin, chief executive of Energy4All, said: “We are delighted so many members of the local community are interested in taking a share in this exciting project. The share offer has been designed with local investors in mind and ordinary shares can be purchased for as little as £100 for those living close to the turbines.

“Renewable energy provides a great return on investment at approximately 6-8%, and we have been granted EIS, therefore shareholders will receive 30% of their investment back.”

• The closing date is 31 July. For more details, visit: www.fourwinds.coop

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