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United Kingdom

Support for Fenland's share ownership

A share ownership scheme for three Fenland wind clusters has moved a step forward with the launch of an independent company to give local people the opportunity for a stake in the projects. Fenland Green Power Investments is being set up by developer Eastern Generation and its partner in the wind cluster projects, Wind Prospect. The new company is to hold an equity interest in the Eastern subsidiary that will undertake development of the wind clusters. The three projects at Manea, Christchurch and Coldham in the Cambridgeshire Fens are going through the planning process before issuing a full investment prospectus. Shares in the company -- which will not be listed -- will be issued at £1 each with a minimum stake of £250. A maximum of 10% of the projects' equity will be available, worth around £150,000. The scheme is one of very few in the UK to offer the opportunity for community ownership in wind energy projects. According to Eastern, the share ownership scheme has so far received an overwhelmingly positive public response.

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