Corwen pioneer share offer now live
Seeking 25200 pounds, open on July 1st, no closing date
Corwen Electricity Co-operative is a new co-op which will own a hydro turbine in the town of Corwen.
The Co-op will install and own a 42 kilowatt turbine which will take water from Nant Cawrddu, which rises outside Corwen and flows into the town.
An abstraction licence application has already been submitted to Natural Resources Wales, and a planning application is currently being prepared. It is hoped that all permits will be obtained by the end of 2014 so that construction can take place in 2015.
The scheme is set up as a co-operative so that it will be owned and operated by members from the local community. A pioneer share offer is currently being run to raise the money needed to complete all the licence and permit applications. If you are interested in buying shares, please read the share offer document on the download page.
Once the permits are obtained, another share offer will be run to raise the capital needed for the main construction.
The scheme will generate sufficient energy to feed about 38 typical households and save about 55 tonnes of CO2 per year.
Corwen Electricity Co-operative is being supported by and would like to give thanks to many organisations include Cadwyn Clwyd, Corin Hughes Limited, Renew Wales, Ynni’r Fro, Denbighshire County Council, The Rhug Estate, Natural Resources Wales and Sharenergy
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