Investors flock to support village wind turbine

Village community contributes £86250 to purchase wind turbine. This green investment bucks the crunch. Investors say “Why rely on Russian gas imports when we can generate are own renewable energy, make a real return on our investment and combat climate change”

Hockerton’s sustainability group are excited about purchasing their wind turbine. Approval came after 2 years of engagement with the village and district council. The group’s fear was that the good intentions of local people would not result in real investment. Hockerton rose to the challenge and has so far raised an extra £65300 on top of the £86250 from the village.

The Sustainable Hockerton group, known locally as SHOCK and now Sustainable Hockerton Limited, was set up in 2006 with the aim of reducing the carbon footprint of this Nottinghamshire village. More than a quarter of the village population supported the aim to erect a wind turbine within the parish which will produce electricity equivalent to the current usage. This plan was backed by a survey of residents.

A local farmer said “Each one of us has a part to play in meeting global challenges and, along with cutting our energy use, local energy generation from renewable sources is one of the most obvious ways forward.”

One local resident said “Across the globe, and closer to home, there is an increasing realisation of the enormity of the challenges ahead in relation to climate change, energy security and fuel poverty. We must act!”

How will it work?

Sustainable hockerton Limited will purchase and install a second hand 225kW Vestas Wind Turbine (29m diameter blades on a 31m tower).

It is positioned more than 500m away from any house to avoid disturbing the “neighbours”.

The 225 kWh wind turbine is expected to generate enough electricity for more than 50 homes, saving 160 to 200 of tonnes Carbon Dioxide each year over its lifetime.

Electricity is fed into the national grid, with resulting revenue covering costs, providing a return for investors, and income to support additional environmental projects in the area.

Sustainable Hockerton Limited an Industrial and Provident Society formed is run by its members on a one member, one vote basis.

2000 people visit nearby Hockerton Housing Project each year to learn about sustainable living. This turbine will add to their experience and will inspire further community projects.

After about 15 to 20 years, the turbine will be decommissioned and it is envisaged that all remaining shares will be repaid in full out of the depreciation fund.

Sustainable Hockerton Limited, an Industrial and Provident Society is continuing to look for further investors as the total installation cost will be in the region of £225000. (Some quotes still to be finalised) By investing as little as £250 or up to £20000, individuals and businesses can support the scheme and therefore the move to a lower carbon energy supply.

Simon Tilley, founding director of Sustainable Hockerton, said “This turbine is a necessary step towards cleaner, more secure energy supplies, and I hope others will take this opportunity to be part of this journey.”

For more information, visit sustainablehockerton.org