Investors keen to cash in on high demand for green energy are to be offered the chance to invest in wind turbines on farms across Yorkshire.
Wetherby-based wind turbine specialist Earthmill has opened the UK’s first crowd-funded investment aimed at farm scale turbines.
The fund, which guarantees investors returns of 7.25 per cent a year over three years, has been launched by renewable energy crowd-funding platform Trillion Fund.
The minimum investment is £50 and Earthmill’s initial target is to raise £1.25m.
Loans will be secured against five already operational farm scale turbines across Yorkshire.
Steve Milner, managing director of Earthmill, said: “Not everyone has the land or the opportunity to build their own wind turbine, so we are offering the UK’s first farm scale turbine investment fund, which enables thousands of new investors to share in the benefits of energy generation.
“We anticipate rolling this investment model out to a further 20 turbines on farms across the country, which will generate enough electricity to power more than 900 homes over the coming 12 months.”
He said that individual small scale turbines on farms are becoming increasingly popular, because producing energy at the same place as it is required is efficient and directly supports UK farming. Previously, investors needed land and between £250,000 to £600,000 of funding.
Mark Woodward, Earthmill operations director, said: “The UK has a looming shortfall in power generation, which can’t be met by new power stations alone. As the technology has evolved over recent years, the price of power has continued rising and the rewards for generating wind power have grown, we are seeing many landowners join the ranks of energy producers.”