Renewable investments website 
comes on stream with hydro plan

A NEW funding platform designed to link environmentally-minded investors with small-scale renewable energy projects has launched with a hydro scheme in Sheffield as the first beneficiary.

Microgenius, founded by Emily MacKay, allows people to buy interest-bearing shares in community projects.

The not-for-profit website has launched a £250,000 share offer for Sheffield Renewables, which hopes to develop an Archimedes screw to generate electricity at Jordan Dam near Meadowhall.

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Ms MacKay explained : “When I was looking to invest in renewable energy, I found it really difficult to find the community projects.

“I eventually found and talked to some co-operatives and community benefit societies and I realised then how burdensome they find attracting investors and the administration that comes with it. So I could see that something had to be done to help. Microgenius is designed to simplify the process for both projects and investors.

“It is a web-based platform that has been specially developed to manage the administration of fund-raising and also to make it possible to reach a much wider range of people with the share offer.

“Sheffield Renewables will be our first test run.”

Mark Wells, a director at Sheffield Renewables, said the Jordan Dam Hydro project aims to generate 310,000kWh of electricity a year, the amount used by 80 typical family homes. The share offer closes at the end of the year.

Ms MacKay told the Yorkshire Post that the website offers community shares that “are good for people’s pockets, good for the environment and good for society”.