Your chance to buy a share in community wind turbine
Finn Jensen, from Pennine Community Power, Blackshaw Head
Published on Friday 15 June 2012 15:04
RESIDENTS are being offered the chance to invest in their community.
Plans for a community wind turbine in Blackshaw Head are taking shape and residents are being offered the chance to buy £29,000 worth of shares in it, with the minimum stake being £250.
Pennine Community Power (PCP), which is the group behind the enterprise have indicated that some of the profits from the sale of energy will be pumped back into further sustainability initiatives and hope to generate as much as £100,000. The other money will go to paying back community investors with interest, which they hope to do within 15 years, as well as buying that shares back.
Dr Ashley Sharp, one of the founding members of PCP, said: “The great idea behind this project is that everyone benefits from having the turbine within their community through the income fed back through the electricity generated.
“As well as being a much needed source of seed funding for other projects, the turbine will also be an educational resource and a focal point for community owned energy projects.”
Electricity from the 12 metre matrix mast the SIAC 10kW wind turbine will be fed into the national grid, which will generate an income through the Government’s feed-in tariff scheme.
PCP, which is a community owned renewable energy enterprise set up by a group of local residents with the vision of raising funds for their community by generating electricity from renewable resources, has already secured £30,000 of funding from the Village SOS scheme towards installing the community wind turbine.
Dr Sharp added: “PCP has a vision to foster sustainability within the Calder Valley and we see the turbine as a small step in the right direction.
One of the key advantages of a Community Benefit Society is that everyone has an equal say in how the revenue is spent regardless of the size of their initial investment.”
The official share launch will take place at 7.30pm on Saturday, June 23, at the New Delight pub in Colden. However, shares are being offered from the Thursday, June 21, until the end of July.