Whitby Esk Energy, the community organisation that are raising money to install a 50kW Archimedes screw on the river Esk at Ruswarp, have now reached their half-way funding target. The group need to raise a total of £560,000 to buy and install the turbine and provide running costs for the first few years.
The group state that the aims of the project are twofold:1. To produce 'green' energy thereby reducing carbon emissions.2. To produce a regular income to finance continuing carbon reducing projects.
The 'fish friendly' Archimedes screw is expected to generate 190,000kWh each year, which is enough to power 55 homes and save 100tonnes of carbon each year for the 40 years the turbine is expected to operate.
The income generated from the electricity sold to the national grid and the revenue from the feed-in-tariff (a government payment to support the generation of green electricity) will then be used by the Esk energy community group to fund further carbon saving projects.
The community group are expecting to raise the remainder of the funds from the community share offer. This gives the community an opportunity to buy shares in the scheme, which has a deadline of the 18th September.
Download a prospectus
CO2sense have assisted a number of Hydro-generation schemes, which are now operational in the Yorkshire region providing carbon neutral electricty. CO2Sense are happy to be supporting Esk Energy who 'think Global, act local'.