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15/11/2007
Emda Invests In Green Power Co-Operatives
East Midlands Development Agency (emda) has injected £265,000 into a project which will enable communities across the East Midlands to own and operate their own green energy co-operative.
The co-operatives will manage sustainable green energy resources such as wind farms, hydroelectric power plants and in some cases biomass schemes (creating heat and power from renewable sources).
The project will enable around eight communities to own and produce sustainable energy by offering shares in the energy project. As part of a co-operative they will receive a share of the profit from the sale of electricity or heat.
The share scheme could generate finance for a community fund to help with other energy saving and environmental activities, such as free insulation and low energy appliances, as well as educational activities, such as site visits for students and school children.
emda has joined forces with Energy4All Limited to help support and establish the communities across the East Midlands to set up the green energy co-operatives.
One scheme, which is already operating in South Lincolnshire is the Fenland Green Power Co-operative, is owned and run by local people around the wind farm at Deeping St Nicholas.
The wind farm project was initially given £50,000 in 2006 by emda through Social Enterprise East Midlands (SEEM). The scheme is now up and running thanks to this new initiative and is offering shares to members of the public. The project will enable share holders the chance to own two of the eight wind turbines in a scheme which will produce clean electricity for over 2,000 homes for the next 23 years.
Abby Johnson Brennan, deputy chief executive at emda, said: "This project is not just about installing wind farms or hydro-electric plants, it is about changing the attitudes of private investors towards new energy technologies and tackling climate change. By investing in this project, emda aims to help create a flourishing region by giving communities the ownership and management of their own sustainable energy production on a scale never achieved before."
For more information on setting up a co-operative for renewable energy in the East Midlands contact Energy4All on: 01229 821028.
(JM)
The co-operatives will manage sustainable green energy resources such as wind farms, hydroelectric power plants and in some cases biomass schemes (creating heat and power from renewable sources).
The project will enable around eight communities to own and produce sustainable energy by offering shares in the energy project. As part of a co-operative they will receive a share of the profit from the sale of electricity or heat.
The share scheme could generate finance for a community fund to help with other energy saving and environmental activities, such as free insulation and low energy appliances, as well as educational activities, such as site visits for students and school children.
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emda has joined forces with Energy4All Limited to help support and establish the communities across the East Midlands to set up the green energy co-operatives.
One scheme, which is already operating in South Lincolnshire is the Fenland Green Power Co-operative, is owned and run by local people around the wind farm at Deeping St Nicholas.
The wind farm project was initially given £50,000 in 2006 by emda through Social Enterprise East Midlands (SEEM). The scheme is now up and running thanks to this new initiative and is offering shares to members of the public. The project will enable share holders the chance to own two of the eight wind turbines in a scheme which will produce clean electricity for over 2,000 homes for the next 23 years.
Abby Johnson Brennan, deputy chief executive at emda, said: "This project is not just about installing wind farms or hydro-electric plants, it is about changing the attitudes of private investors towards new energy technologies and tackling climate change. By investing in this project, emda aims to help create a flourishing region by giving communities the ownership and management of their own sustainable energy production on a scale never achieved before."
For more information on setting up a co-operative for renewable energy in the East Midlands contact Energy4All on: 01229 821028.
(JM)
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