Trillion Fund launches ambitious £5m crowd-funded wind turbine project
A crowd-funding company has launched what it has described as the UK's biggest peer-to-peer financed wind energy project - a £5m scheme to install a number of mid-sized wind turbines at locations across the UK.
Trillion Fund has teamed up with E2Energy, a joint venture between Endurance and Earthmill, to offer investors the opportunity to lend as little as £50 to the scheme at a special interest rate of 7.5% until a July 31 deadline.
The group will look to put proceeds of the fundraising towards new Endurance turbines on sites already granted permission in the North East, North West, Yorkshire, south Wales and Scotland.
Five existing wind turbines in Yorkshire and South Teeside will serve as back-up to the investors money until the new turbines are constructed.
Trillion Fund managing director, Julia Groves, said: "Wind profits do not have to be just for wealthy landowners – they can go to everyone.
"And we are all ultimately paying for feed-in tariffs, so we might as well be making a return from them too."
Trillion Fund is a group of individuals, ranging from asset managers to campaigners, aiming to help people generate clean energy via investments into its crowd financing platform . The group got its name from the fact it represents the scale of worldwide funding required to combat climate change and stop it reaching damaging levels.
Endurance UK, managing director, Dave Rankin, added: "Endurance has a strong community focus and we wanted to give everyone the chance to have a stake in the growth of UK wind – not just the private equity players, banks and high net worth individuals that have so far funded much of the sector.
"In Denmark, where the renewables sector is more advanced, they say that when local people own the wind farms and share in the benefits, they support them. You go from NIMBY (Not in my Back Yard) to POOL (Please On Our Land)."
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