A COMMUNITY share offer has been launched which organisers hope will raise £200,000 to fund a new hydro-electricity project on the River Don.
Sheffield Renewables is proposing to install a hydro-electric generator at Jordan Dam, near Meadowhall, which the company says could be ‘the biggest community owned hydro scheme in England’.
Dr Mark Wells, a director of Sheffield Renewables, said: “Community Shares are a way for local people to invest in schemes that might not otherwise go ahead, and to be involved in changing our city to a greener way of living.
“Individuals, organisations or companies can invest any amount from £250 to £20,000.
Those on a low income can also invest in instalments.”
The launch took place at the Central United Reform Church, Norfolk Street, in the city centre.
As well as learning more about Sheffield Renewables and the share offer, people attending heard from Simon Tilley who led on the development of a community owned wind turbine in the village of Hockerton, Nottinghamshire.
The turbine, also funded by a community share offer, started generating power in 2010 and in its first year had generated as much power as the village consumed.
The share offer runs until December 31.
Jordan Dam will produce 310,000 kilowatt hours of electricity per year.
That is enough to power 80 homes and save 170 tonnes of carbon dioxide.
The electricity will be generated through water power turning an ‘Archimedes screw’ turbine, which is more fish-friendly than more common water turbines.
The share offer aims to raise £200k, and will pay up to three per cent interest to investors.
The minimum stake on offer is £250 and the maximum is £20,000.
■ For further information about the Jordan Dam scheme, visit www.sheffieldrenewables.org.uk.
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