From launching Scotland’s first 100% co-operatively-owned wind turbine to supporting community solar and hydro-electricity projects across the country, Sharenergy are working hard to keep UK community-owned wind power and more alive in the UK. We share news of their latest share offer with the Small Wind Co-op, which for a limited time includes free bonds for early applicants. Over to Jon Hallé from here.
The Small Wind Co-op (SWC) is a 100% co-operatively owned wind co-operative based in Wales. We are working to keep the community wind movement going. Despite the challenge of all government support for wind onshore having been removed, we don’t believe in giving up.
We are actively developing several new projects, using refurbished turbines and volunteer time to make them viable. SWC already runs 3 farm-scale turbines in Scotland and Wales which are co-owned by 500 people from across the UK. All our surplus will go to local community funds in the areas surrounding the turbines.
At the moment we are raising money to buy a turbine in County Durham. This isn’t a new turbine – it’s already operational, so buying it won’t save carbon directly. But it will put us in a stronger financial position while we work on new wind projects.
We’ve raised over half of our £450,000 target but we need help to get to the total. We’re selling bonds which pay annual interest of 4.5% from 2020 and members of the public can invest from £100 upwards. The bonds will be repaid in instalments over a 10-year period and attract a fixed interest of 4.5% on capital retained from year 2.
For all the details, the bond offer document and details of how to apply see here. You can also find details on Twitter and on Facebook – please do feel free to share as widely if you’d like to help spread the word!
Many thanks for your help.
Sharenergy and the Small Wind Co-op team
