Assel Valley Community Renewables Society is planning a share offer with the aim of raising £1,000,000 to enable people to own a stake in the Assel Valley wind farm near Girvan, in Ayrshire.
Assel Valley is working with social enterprise Energy4All to increase the community involvement in the wind farm. People in Ayrshire and nationwide will be able to purchase shares from £250. Share interest will be paid on an annual basis, dependent on the amount of energy produced by the wind farm.
Assel Valley wind farm has been developed and built by Falck Renewables Wind and comprises ten Nordex N90 2.5MW wind turbines. It is generating approximately 84,000MWh annually.
Director Jim Lee said “We have recruited some local directors who will be helping to get as many local people as possible involved in this share offer. Looking to the future the renewables society will create a fund for the benefit of the local community closest to the wind farm site”.
Erin Hunter, Falck Renewables’ Community Relations Manager commented: “We have always been determined as a company to offer local people the chance to have a stake in their local wind farm and have developed similar schemes for the majority our wind farms. And it’s good that there’s an additional benefit for the local community, as well as the financial return for the individuals buying shares.”
More information on Assel Valley Community Renewables Society