Ever wondered how to spend spare change? Well how about investing in a community funded wind turbine? Renewable energy is the key to securing a regular supply of energy and the success of renewable projects lies with local residents. Four Winds enabled members of the public to own a stake in their local renewable energy resource at Duckmanton, near Chesterfield in Derbyshire.
Local residents had the opportunity to invest as little as £100 in the scheme, which is projected to generate returns of between 6-8 per cent averaged over the life of the project. If you are still doubting the financial benefits, it may interest you to know this is currently higher than any return offered by the high street banks. In addition, Four Winds has confirmed that the shares in Four Winds will qualify for EIS tax relief of 30 per cent.
The money for the project has been raised by a public share offer which has generated over £2.6 million – more than enough to build the 500 kW wind turbine! The turbine will be producing electricity by December the 9th 2014 and will feed into the national grid to provide power for local homes.
Sound interesting? Research your local renewable energy projects to see if you too could become a shareholder.