Renewable energy firm Good Energy is giving residents living nearby to its Big Field Wind Farm in North Cornwall a chance to investment in the project and have a “real stake in their own energy future”.
If the planned wind farm is given the green light, anyone living in Cornwall will be able to invest in the project, with preferential rates for those living closest to the site. The investment will be made through the issuance of a local version of the Good Energy Bonds, with individuals able to invest as little as £50.
The annual rate of interest is expected to be similar to the 7.25% provided by Good Energy Bonds released by the company last year. The investment opportunity offers investors a chance to make a financial return on their money whilst contributing to the transitioning of the UK’s energy mix away from fossil fuels to a cleaner and low-carbon supply.
When the bonds launched last year, they were oversubscribed and closed early [http://blueandgreen.wpengine.com/2013/10/25/good-energy-closes-bond-offer-three-weeks-early-after-applications-worth-15m/], demonstrating the demand and interest from investors for renewable energy projects.
Juliet Davenport, founder and chief executive of the company, said, “We believe in a 100% renewable future and Cornwall is leading the way. We think that the communities helping to make this happen, by hosting new wind and solar projects in their area, should share the benefits. One way of achieving this is to enable people to make a financial investment in those developments.”
The Big Field Wind Farm is a planned 11-turbine wind farm, which has been submitted to Cornwall council and is now open for public comment. Once operational, the site would have the potential to generate enough electricity to power 13,500 average UK homes.
Davenport added, “Investors in the new bonds will know that their money is helping to secure homegrown, low-carbon energy supplies for UK homes well into the future.”
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