Germany

Germany

Investors are being sought

Investors are being sought for an ambitious community project to take over an electricity distribution grid in the Black Forest and reorganise local power supply using decentralised and ecological combined heat and power and hydro plants. Investment in a wind farm in the Netherlands is also part of the scheme. The plan, put forward by Elektrizitaetswerke Schönau, is to be financed from a fund being set up by Gemeinnützige Kredit-Garantiegenossenschaft (GKG) of Bochum. Schönau, founded by a people's initiative, intends to take over the parish electricity distribution grid at the beginning of 1995 using DEM 2.4 million of the fund. The remaining DEM 500,000 will be invested in a newly built wind farm at Termeuzen in the Dutch province of Zeeland. The Schönau fund was opened to investors December 16 with a lower limit for minimum investment of DEM 5000. The fund's projects are expected to earn an annual return of at least 4.3%.

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