Community hydro share opportunity for ethical investors 27.04.10
The launch of two new community hydro share offers – for a total of £1M - gives individuals who are committed to ethical investments and want a fair return on their money the chance to support climate change solutions and save for the future.
Following the success of the UK’s first community-funded hydro schemes, a Yorkshire-based social enterprise, H2oPE, is launching two more share offers – the largest ever for community hydro - for projects at Bainbridge in North Yorkshire and at Stockport in Greater Manchester. Steve Welsh, MD of H2oPE, the social enterprise behind the UK’s first community hydro schemes said:
“We know there are individuals who want to save for the future, but are not convinced about the ‘greeness’ of some of the products currently on offer. Our community hydro share offers provide a real alternative. What’s more, any surplus monies will given as funding to local environmental and educational projects”.
Brigid Benson of Ethical Investment Advisers The Gaeia Partnership said:
“There is a growing trend of investors wanting to invest money and at the same time make a positive difference to the world in which they live. Community hydros provide one such opportunity and, as part of a portfolio of investments, would satisfy the aspirations of many of our clients.”H2oPE have applied for advanced assurance from HM Revenue and Customs that the share offers qualify for the Enterprise Investment Scheme (EIS). Both previous schemes had EIS status.
With a 45kW installed capacity, River Bain Hydro will generate approximately 185,000kWh per year, enough to power 40 houses, saving 80 tonnes of CO2 per year, 3000 tonnes over an expected lifetime of 40 years. Stockport Hydro has a combined installed capacity of 130kW and will generate enough electricity to power around 130 homes. Over a lifetime of around 40 years, an impressive 9,000 tonnes of CO2 will be saved.
Both companies will be run on a one-member one-vote principle and surplus money generated from the sale of the hydroelectricity to the grid will contribute to local environmental and regeneration projects. Shares cost £1 each, with a minimum shareholding of 250 shares and a maximum investment of £20,000.
For full details, download a Prospectus at www.h2ope.co.uk . Share offer closes 9 June 2010.
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