An energy cooperative in Bristol has launched a £2million share offer to create the city’s first community-owned hydro-electric generator.
Bristol Energy Cooperative (BEC) is hoping to raise enough funds to build the micro hydro-power station near Bristol Temple Meads station at Netham Weir.
According to BEC, the generator would use the natural force of the water falling across the weir to spin twin turbines, producing enough energy to power 250 homes.
The scheme will cost around £2.4million, BEC said, and would run night and day throughout the year, with peak output in winter.
BEC has currently raised £313,851 - a total of 15 per cent of its target - as of today (October 14). Investors can make a minimum investment of £100, with each share priced at £1.
The community share offer, which will fund the project, will also help create the 海角视频’s first net-zero domestic housing microgrid, according to the cooperative.
Microgrids combine energy efficiency with shared on-site renewables, heat pumps for heating and hot water, and battery storage - and no gas boilers are required.
The microgrid would be installed at the new Water Lilies housing development in the Lawrence Weston area of Bristol, BEC said.
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“Our mission is to invest in renewables, cut carbon, and build community,” said Will Houghton, project developer at BEC.
“Through buying shares in BEC, Bristol can participate in the ownership of local renewable energy, support local communities [and] help tackle climate change.”
BEC said the clean energy produced would be sold to the National Grid and the income used to develop more renewable sites across Bristol.
Peter Thompson, BEC’s chair, added: “The climate emergency makes the need for renewable energy ever more urgent, so we’re rising to the challenge with this share offer.
"We know that people in Bristol and across the 海角视频 overwhelmingly support the transition to cleaner forms of energy, so we’re committed to ensuring they have a chance to be a part of it.”
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The not-for-profit organisation will add these new schemes to its existing 16 community-owned renewable projects installed across the South West.
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These currently have a combined annual electricity output of more than nine Gigawatt hours, which is enough clean energy to power over 3,000 homes, BEC said.
The share offer closes on October 30.