• Mar

    Saddleworth Community Hydro

    Save for a rainy day and support renewable energy

    Saddleworth Community Hydro  – England’s first ‘high head’  community-funded hydro scheme - gives you the chance to demonstrate your commitment to environmental projects, put something back into the local community and be part of a community scheme that will generate clean, green electricity for the next 40 years. For as little as £250, you can invest in a hydro electricity scheme and become one of its owners. As well as seeing environmental and community benefits, you get a financial return over the lifetime of the project and you might be entitled to a tax break too.

    The Scheme

    Saddleworth will be England’s first ‘high head’ community-owned hydro, using head from the 90ft dam at the Dovestone reservoir. A 51kW turbine will be installed generating 170,000kWh/year electricity, enough to power 45 homes.

    Saddleworth Hydro is an Independent and Provident Society for the benefit of community. It will be run on a one-member one-vote basis, regardless of size of shareholding and surplus funds will be granted to local environmental and education projects

    Directors are hoping to offer up to 4% interest from year two and the scheme is eligible for EIS (Enterprise Investment Scheme). Under the EIS scheme, individuals must hold shares for 3 years and 30% of the value of the investment can be used as an ‘income tax reducer’ in the year that the shares are purchased

    Shares in Saddleworth Hydro cost £1 each, with a minimum shareholding of 250 shares.

    If you’re interested in becoming a shareholder, download a prospectus at www.h2ope.co.uk.  The closing date for the share offer is 16 April 2012.

    Saddleworth Hydro will be holding an Open Day at Dovestone reservoir on Monday 9 April from 11am – 4pm. For more information please contact [email protected] or Tony Bywater on 01457 875423.

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