The second tranche of shares in the Small Wind Co-op is being launched at a drop-in event being held in the Morlan Centre, Queen’s Road, Aberystwyth, Ceredigion, SY23 2HH from 6.00 to 9.00pm on Wednesday October 12th.
This follows a successful share offer over the summer which raised over £1 million to fund the installation of farm-scale wind turbines at Troed y Bryn, Ceredigion and Inverclyde, Scotland, the first time a community energy project has brought together wind projects in different countries within the UK.
For this second tranche, which aims to raise £500,000, people who live within postcodes which are within 20 miles of the projects will benefit from access to £100,000 of shares set aside for local investment for the first two weeks of the offer period – until 1 November. The minimum investment is just £100 and projected average annual returns are 6.5% over 20 years.
Jon Halle, Director, Small Wind Co-op, said:
“Over 300 people joined us to help raise over £1 million this summer which means we can start to build the first of the two projects and put the grid deposit in on the other. 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 Wales and the UK.”
As well as offering a stable return for members, supported by the government-guaranteed Feed-in Tariff, the project will generate a community fund of £3,000 a year (index-linked) for 20 years at each site in Scotland and Wales.
Sharenergy, based in Shrewsbury, has helped set up over 30 community energy projects throughout the UK. It’s easy to join the Small Wind Co-op. Shares can be bought using the application form in the comprehensive Share Offer Document, available to download at the Small Wind Coop website www.smallwind.org.uk