Posted on April - 25 - 2010
Investors sought for Stockport hydroelectric scheme
A social enterprise that hopes to turn redundant Victorian river weirs into hydroelectric turbines capable of providing power for local housing is calling for investors to back two new schemes, including one in Stockport.
H2oPE is offering shares in the the Stockport Community Hydro scheme at £1 each. Investors are required to buy at least 250 shares, with a maximum permitted investment of £20,000.
The planned turbine, which is being launched alongside another scheme in North Yorkshire, will have a combined installed capacity of 130kW and will generate enough electricity to power around 130 homes.
It will also save 9,000 tonnes of CO² over a lifetime of 40 years.
Managing director Steve Walsh said: “We know there are individuals who want to save for the future, but are not convinced about the ‘greenness’ of some of the products currently on offer. Our community hydro share scheme offers provide a real alternative.”
All profits from the operation are planned to be reinvested into local regeneration and environmental schemes.
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