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Sustainable gifts for Christmas

Looking for something sustainable, environmentally friendly and fun for Christmas? Then why not buy someone a share in a micro hydro scheme?

Saddleworth Community Hydro is looking to raise £120K through a share offer. Directors hope to offer interest at 4% from year two. The scheme will be eligible for EIS tax relief provided that individuals invest a minimum of £500 and keep the shares within the company for a minimum of 3 years. EIS tax relief currently stands at 30%.  There’s a minimum shareholding of £250 and a maximum of £20,000.

“It’s a great idea” says Saddleworth Community Hydro Director, Bill Edwards “Years of feel-good factor knowing that you’re helping to generate green electricity, a good excuse to visit the lovely Dove Stone reservoir in the Peak District National Park, and you get a return on your investment and support other environmental projects – what’s not to like?”

Saddleworth will be England’s first ‘high head’ hydro, using the 60 ft drop of the compensation water at the Dove Stone reservoir. A 51kW turbine will be installed generating 170,000kWh/year electricity, enough to power 45 homes.

Water Power Enterprises (h2ope) – who were behind the UK’s first community-owned hydro electric schemes, three or which are up and running with a fourth under construction in Stockport - are also supporting the Saddleworth scheme.

A prospectus can be downloaded at www.h2ope.co.uk after the launch on 15 December 2011.  For more information contact steve.welsh@h2ope.co.uk.