Wednesday, 27 August 2008

Want to Invest in Wind Power?

From today you can invest in a UK based wind farm of 19 turbines, with maximum output of 47.5MW. Shares in the Kilbraur Wind Energy Co-operative, up to the value of £1.8 million will be available for purchase to locals in the largest wind farm co-op in the UK.

Shares will cost £1 each and residents will have to buy a minimum of £250 up to £20,000 before October 24. Although anybody in the UK can buy shares, priority will be given to residents of Sutherland, then Caithness, Ross-shire and City of Inverness. Members of the 15 other co-operatives run by Energy4All will also get priority on buying shares.

Energy4All was formed in 2002 to expand the number of renewable energy co-operatives in the UK as an integral part of our transition to a low carbon economy.

Community-owned green energy is the corner stone of European renewable expertise and has worked successfully in the UK since 1996 through the award-winning Baywind Co-op.

Energy4All is uniquely owned by the co-operatives it assists; Baywind Energy Co-operative Ltd, Westmill Wind Farm Co-operative Ltd, Boyndie Wind Farm Co-operative Ltd, Fenland Green Power Co-operative Ltd, Isle of Skye Renewables Co-operative Ltd and Great Glen Energy Co-operative Ltd. As additional co-ops are established they too will take a share in this growing organisation.

Energy4All offers a highly successful combination of industry experience, community involvement, and business acumen providing a package of sector, admin, and financial services to Co-ops in return for an annual fee.

Energy4All was created due to daily enquiries received by Baywind Co-operative from people looking to replicate the success of Baywind, the UK's first community-owned wind farm. Baywind co-op has generated enough green electricity to power 1,300 homes a year whilst paying an attractive return to its 1,350 members (averaging 7% per annum), and supporting local initiatives, such as the Baywind Energy Conservation Trust. Owning a wind farm increases awareness of and involvement in renewable energy developments, maximises financial returns from local resources, and mobilises environmental concern.

"We're ethical, green and democratic - we have local people on the boards for each co-op. With Kilbraur we'd like our existing members to take an interest, and we'd particularly like people from the local town of Inverness to invest. If we can match our other projects and reach £1 million of investment, then we'll be very happy."
Paul Phare, Scotland development manager for Energy4All

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