Have you ever wanted to help build a green economy?
Well, a new scheme lets you do just that allowing you to invest in renewable energy projects from as little as £5.
Abundance Generation launched the investment platform, which gives people the chance to invest between £5 and £50,000 in energy generation, offering returns between 6.75% – 8%. The company aims to attract £1.4million by September for its first wind turbine project in the Forest of Dean in Gloucestershire.
Louise Wilson, Joint Managing Director of the company said: “We call it ‘democratic finance’. Our mission is to create a renewables revolution by giving people the opportunity to invest in renewables projects – whether they have £5 or £50,000 – and enjoy a good regular return.
“We know today’s investors want more control over where their money is going and how it’s being used… Our customers’ money goes directly into projects generating growth and revenue in the real economy.”
Bruce Davis, Joint Managing Director told ELN around 80 individuals have shown interest in the project, raising an amount of £170,000 so far. He said they are also working towards a solar project, which will be announced in the near future.
The news comes as the UK Government failed to reach an agreement on financial support for the renewables sector yesterday, risking delays in projects to help Britain reach its 2020 target.