Smashing an incredible £1.5 million target by more than £100,000 secures stake in Auchrobert Community Energy Society owned wind farm in South Lanarkshire, Scotland.
People from the local communities within South Lanarkshire were invited to take part in a share offer to own a stake in the Auchrobert wind farm. Managed by Energy4All Limited, a social enterprise based in Cumbria, this offer was then further released to renewable energy supporters nationwide. Developed and built by Falck Renewables Wind Limited, the site comprises twelve GE 3.2MW wind turbines with a total export capacity of 36MW. The wind farm is expected to produce enough clean energy to power approximately 26,000 homes. Members are projected to receive a 5% return over approximately a 15-year period.
Jim Lee, Chair of Auchrobert Community Energy Society said after the offer closed “The board of Auchrobert Community Energy Society are overwhelmed by the support we have received from all the new members who have participated in our share offer. To have raised £1.5m and to be over-subscribed is an amazing outcome of which everyone involved can be rightly proud. As someone who lives in South Lanarkshire I am looking forward to working in partnership with others to ensure that the community benefit which arises from this investment is put to good use and makes a difference to communities in the area”.
Bob Millar, who has purchased shares in the society said “I liked the way that Energy4All were trying to prioritise South Lanarkshire residents as members of Auchrobert Community Energy Society, giving them a long term stake in their local green energy development ”.
Notes to Editor:
* Energy4All is owned by the community co-operatives it creates and is unique in the UK. It was established in 2002 and has since then raised over £71 million to fund 26 community owned renewable energy co-ops throughout the UK.