A renewable energy company has offered people the chance to co-own a wind farm by taking part in an £8m public share issue.
Triodos Renewables runs Caton Moor Wind Farm, a group of wind turbines in an upland area of the Forest of Bowland, east of Lancaster and Morecambe Bay.
It is issuing around 4.2 million shares at £1.90 per ordinary share, with a minimum investment of £570.
The firm said all proceeds would be invested back into building new onshore wind power assets, to expand its portfolio of eight renewable energy projects in the UK.
Matthew Clayton, Triodos Renewables’ managing director, said: “We are giving investors the opportunity to participate directly in the energy revolution. The UK is at a crossroads at which choices need to be made that will decide where our energy comes from in the future.
“Our share offer allows investors mindful of climate change, energy security issues and the need for transition to a safe and sustainable energy future, a chance to make a real difference and expect a good return.”
Set up in 1994, Caton Moor was one of the UK’s earliest commercial wind farms, at the time generating 11% of the UK’s wind energy output.
In 2005, work began to re-power the site and 10 older turbines were replaced with the current eight.
With a total capacity of 16 megawatts, the 55m high wind turbines generate enough energy for 10,000 homes.
Triodos Renewables, with almost 5,000 shareholders, is the UK’s most widely-owned renewable energy company.
For 2011, the company is paying a 4p dividend.
Over the past year the share price has increased 10p to £1.90 per share.
Those who invested in 2006 have seen capital growth of 50p and total dividends of 16p per share - a 6.8% return.
Interested people have until 3pm on August 31 to apply for the shares on offer.
For more information visit the Triodos Renewables website or call 0845 478 6359.
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Weather for Preston
Sunday 19 May 2013
Temperature: 10 C to 16 C
Wind Speed: 16 mph
Wind direction: North west
Temperature: 11 C to 16 C
Wind Speed: 20 mph
Wind direction: West