Share offer for green energy schemes

H2oPE wants to raise 1m for schemes at Bainbridge in North Yorkshire and Stockport in Greater Manchester. The company previously helped raise funding for hydro schemes at Settle and High Peak.

Steve Welsh, the managing director, said: "It's a lot of money to raise, but we're confident that there are committed individuals who really support alternative energy.

"We've applied for advanced assurance from HM Revenue and Customs that the share offers qualify for the Enterprise Investment Scheme (EIS).

"Both our previous schemes had EIS status, so we're hopeful that these latest schemes will qualify also and that'll ease the individual's tax burden.

"Supporting micro hydros is a clear way to demonstrate support for alternative energy. By investing in a sustainable environmental project, you can expect a modest return on your investment and at the same time know that your money will benefit the local community for years to come."

Income tax relief is available to individuals who subscribe to a minimum investment of 500 worth of shares in any one company in any one tax year.

The relief is 20 per cent of the cost of the shares, to be set against the individual's income tax liability for the tax year in which the investment is made.

Both the project may qualify for corporate venture scheme relief – the corporate equivalent of EIS – said the company.

With a 45kW installed capacity, River Bain Hydro will generate approximately 185,000kWh per year, enough to power 40 houses, saving 80 tonnes of CO2 per year, 3,000 tonnes over an expected lifetime of 40 years.

Stockport Hydro has a combined installed capacity of 130kW and will generate enough electricity to power around 130 homes. Over a lifetime of around 40 years, an impressive 9,000 tonnes of CO2 will be saved.

Both companies will be run on a one-member one-vote principle.

Shares cost 1 each, with a minimum shareholding of 250 shares and a maximum investment of 20,000. For details, visit www.h2ope.co.uk

The share offer closes June 9.