UK’s largest community hydro-power project gets cash boost
A pioneering scheme to create the UK’s largest community-run hydro power project is nearing reality after a milestone fund-raising target was reached.
A community share offer staged by the not-for-profit Sheffield Renewables organisation has raised an initial £65,000 with the aim of generating hydro-electricity from the city’s River Don.
The share offer was open to those who had already expressed an interest in their hydro scheme atJordan Dam and contributes towards the £250,000 target for community investment needed to complete the scheme.
A further community share offer will be launched to the public this winter, enabling all individuals, organisation and businesses interested in local, ethical and sustainable investing to contribute the remaining £185,000.The £65,000 also adds 55 new members to Sheffield Renewables, which is registered as a Community Benefit Society, a form of Co-operative Social Enterprise.The Jordan Dam scheme is expected to be the largest community hydro scheme in the UK and once operating the renewable plant will generate as much energy as used by 80 typical family homes (310,000 kWh per year) and save 170 tonnes of carbon dioxide per year.
Rob Pilling, managing director of Sheffield Renewables, said “The aim of the share offer was both to raise funds and to attract new members. Surpassing £65,000 was beyond our expectation at this stage, which gives added confidence in the fundraising potential of the community hydro-power scheme and our offer.
“To see so many new members involved is equally encouraging. It shows their enthusiasm and support for the hydro-power project and provides vital momentum as we move to towards our public share offer this winter.”
It is anticipated that grant funding will be part of the funding mix for the £500,000 hydro-power project, with remaining funding will come from other grant applications and loans.
Planning permission has already been granted for the project, which will see a modern Archimedes screw installed at Jordan Dam, which separates the River Don from the canal.
As well as the Jordan Dam project, Sheffield Renewables is behind anotherhydro-power scheme in the city, to install a water wheel on the River Don at Kelham Island.
It is thought that the water wheel could generate 75,000 kilowatts of electricity a year enough to power 20 homes.
UK’s largest community hydro-power project gets cash boost
on Jordan Dam project, Sheffield Renewables is
behind hydro power scheme ,on River Don Kelham Island.
http://www.archimedeshydroscrew.com/uks-largest-community-hydro-power-project-gets-cash-boost/
http://www.archimedeshydroscrew.com/uks-largest-community-hydro-power-project-gets-cash-boost/
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