A wind project in Wales generates funding in less than 3 weeks

A wind project in Wales generates funding in less than 3 weeks

Awel wind project

A wind project in Wales has generated a surprising amount of money thanks to the support of national celebrities.
Awel, a Community Benefit Society, is behind a community wind power share project to be located in Mynydd y Gwrhyd, 20 miles north of Swansea. The project consists of two 2.35MW Enercon wind turbines with construction planned in March 2016 and final commissioning by the end of the year.
According to the Awel website, the ‘turbines are forecast to generate an estimated 12,558 MWh of clean energy annually, enough to supply over 2,500 homes per year. This will bring revenue of 7.62p/kWh (2.77p/kWh Feed-in Tariff and 4.85p/kWh export rate), based on the relevant FiT and current electricity pricing.’ In an effort to fund the project, Awel created a Community Wind Power Share Offer that is expected to offer a return of 7% on investment, a great ROI.
Many notable members of the community have shown their support for the wind farm which managed to meet their funding goal and beyond, in only three short weeks.
Gillian Clarke, national poet of Wales said:
“This is the way power generation should go, village by village, community by community, water turbines, wind turbines, with all profits going back to the people. This community-owned scheme, grounded in sustainable principles is one to support.”
Paul Thorburn, Wales’ former rugby captain said:
“This is a fantastic, co-operative way of taking action on climate change in the run up to the UN conference in Paris. Anyone can buy a share and therefore be a member of the co-op. One member, one vote. It’s an opportunity to share ownership of Welsh wind.
I have followed this project over the years and have written to support their planning application in the past. I know how determined these guys are. I am a big supporter of community energy projects. I look forward to seeing the turbines turning above the Swansea and Neath Valleys.
I harnessed wind energy to help some of my goal kicking attempts on the field, and to now see the benefits returned to the local community from this resource, is incredible.”
The share offer will remain open until January 31st with a new goal of £1 million.

Posted By Sally on December 8, 2015 | 0 Comment

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