Community bid to bring power to the people

 

Lancashire residents have launched a campaign to create community-owned clean energy on the River Lune in Halton, near Lancaster.

A newly-formed community benefit society, known as Halton Lune Hydro, has issued a share offer with support from The Co-operative Enterprise Hub to fund the first of two turbines which will produce a combined 1,000MWh of renewable energy each year.

The energy generated in Halton – a village which has seen water-powered industry since the mid-13th century – will be sold to local eco-homes with surplus exported to the Grid. Profits from the scheme will benefit local charitable, educational and environmental projects.

Kevin Frea, a founder member of Halton Lune Hydro, said: "We are trying to encourage the widest-possible participation. The higher level of community ownership the less money we need to borrow and more of the benefits of energy generation can remain in the community."

Organisers are looking to raise £950,000 and will pay around 5 per cent to investors. More information at haltonlunehydro.org

Independent Partners; Do you need financial advice on your investments, pension or insurance? Book a free consultation with an independent Financial Adviser at VouchedFor.co.uk

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