An energy start-up is launching Britain’s first “consumer-owned wind farm”, offering people the chance to buy a share of a turbine in return for receiving the electricity it produces.
Ripple Energy is aiming to sign up about 2,000 households in the UK to crowdfund the £4.3 million construction of the pilot, one-turbine project at Graig Fatha Farm near Coedely, north of Cardiff.
People that buy shares in the Graig Fatha co-operative will be securing the right to a proportion of the electricity it will produce. Under an arrangement with Co-op Energy run by Octopus Energy, when the turbine starts operating in 2021, the households involved will be supplied with that electricity at a cheap rate that covers the low running costs of the turbine.
Ripple Energy says that the upfront cost for a typical household would be about £1,900. Customers will still have to pay for network charges, levies and taxes
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