United Kingdom

United Kingdom

ENORMOUS PUBLIC RESPONSE

A UK investment fund for wind projects got off to a promising start by comfortably raising the minimum aggregate subscription of £500,000 during the initial offer period. It claims to have attracted enormous public response. Glen Saunders from The Wind Fund says: "The initial response clearly demonstrates that the public are willing to support an investment where they can make a direct contribution to the environment. By keeping the minimum individual investment at just £300, we have attracted subscriptions from a wide cross-section of the community." The Wind Fund, which aims to target its investment specifically at small wind farms and other renewable energy projects, is a joint initiative between Triodos Bank of the Netherlands and Mercury Provident of the UK -- both social banks. Barry Wycherley from the fund says it issued over 2000 prospectuses and attracted more than 300 investors. The offer period is now being extended by at least several months. "We are now moving into the next phase of our marketing campaign to present ourselves to new audiences," he says. "It would be to our advantage to get institutional investors on board." The Wind Farm is already in advanced negotiations with several wind energy developers and expects shortly to announce its first investment.

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