Over £2.8m raised in 2 weeks for a community owned wind farm

02/01/2018

Over £2.8m raised in 2 weeks for a community owned wind farm

Energy Prospects is one of the co-operative owners of Mean Moor Community Wind Farm, along with High Winds and Baywind, and has raised the funds to pay-off part of the loan that MMCWF has from Thrive Renewables. Financing from Thrive was used by MMCWF to purchase the Mean Moor project from a commercial developer. It is thought this is the first time that a community organisation has purchased a wind farm from a developer.

Rod Blunden, Chairman of Energy Prospects “We are overwhelmed with the response we have received from both Energy Prospects members and the wider Renewable Energy community. It is fantastic that we have been able to bring a commercially owned wind farm into the community owned sector” 

The loan note offers a 4.5% annual interest payment over a three-year period. Over 400 individuals have invested in the scheme, the minimum investment was £500 with the maximum investment was capped at £50,000.