Cheshire hydro project raises £635,000 in two days
A hydro project in Cheshire has raised a total of £635,000 in 51 hours.
The 80kW Church Minshull scheme on the River Weaver is expected to generate around 305kWh of clean electricity every year.
That’s enough to power around 77 homes.
Developers Hydrosense Renewables and Triodos Bank, which is running the scheme’s corporate finance, said they offered investors an 18-month bond at 6% APR.
Dave Mann from Church Minshull Community Hydro said: “This project allows us to harness the power of the River Weaver for clean electricity at the same time as building a new modern fish pass and an eel pass at Church Minshull Weir.
“The fact that the Triodos bond filled so quickly confirms my conviction that investors are looking for more than just a financial return.”
The project is expected to be fully operational by October this year.