Due to the unprecedented local, regional and national publicity, directors of River Bain Hydro have been inundated with requests for a prospectus for the share offer. Consequently the share offer is being extended.
Specifically set up for the purpose of generating hydro electricity, the River Bain Hydro Ltd plans to install a 45kW plant which will generate enough electricity to power the equivalent of 40 houses and save around 80 tonnes of carbon dioxide per year, or 3,000 tonnes over an expected lifetime of 40 years.
Director Yvonne Peacock explains:
“We’ve been delighted at the amount of requests we’ve been getting for the share prospectus. We think it’s only right that we give people sufficient time to consider the prospectus in detail and have decided to extend the share offer until 5pm Wednesday 7 July."
H2oPE, the social enterprise who will manage the project, are hoping that River Bain Hydro will follow in the footsteps of Settle Hydro who recently won a prestigious Community Award at the national British Renewable Energy Awards – a special category created to reward their outstanding achievement.
“We think community hydros can be an important part of the renewable landscape in the UK and are delighted that Settle Hydro have been recognised in this way. There’s plenty of scope up and down the country to revitalise disused weirs which can harness the power of water, at no cost to the planet to create green, clean electricity. There are benefits to the local community via grants to fund environmental projects and we’re creating a legacy that will last a lifetime.” said H2oPE MD, Steve Welsh
“We all know that to build a sustainable future for our children and communities, we need to find ways of reducing our carbon emissions. Many of us have committed to doing things in our own lives to help with this – by recycling, using energy saving lights and other devices around the house, using the car a little less, buying local or sustainably farmed products. And now, for as little as £250, you can invest in a micro hydro electricity scheme and become one of its owners. As well as seeing the social and community benefits, you get a financial return over the lifetime of the project and you might be entitled to a tax break too” adds Steve.
For further information on the press coverage relaiting to this project, click HERE
The share offer closes at 5pm on 7 July and the prospectus can be downloaded at www.h2ope.co.uk.
Further information about the project can be found on the h2ope website www.h2ope or you can telephone Yvonne Peacock for further information on 01969 650409.