Investors pony up for Welsh wind
Awel Aman Tawe wind co-op raises over £2m through share offer
The Awel Aman Tawe wind power co-operative has raised more £2m through a share offer.
Over 800 individuals invested in the Welsh renewables developer, as well as a £100,000 investment from the Friends Provident Foundation.
Other charity investors include the Environmental Justice Foundation and Vision 21, Awel said.
The directors of Awel have decided to extend the share offer in order to refinance a 15-year £1.2m Welsh government loan.
The interest rate for the share offer is 5%, Awel said.
Friends Provident Foundation investment engagement manager Colin Baines said: “We are pleased to be making our first direct investment in community energy by joining the Awel wind co-op.
“Awel also has the right location, technology and expertise, plus a fair return on investment, which together with its social and environmental benefits, means it is a perfect investment for a foundation like ours that seeks to use its assets to progress its charitable objectives.”
Awel’s Dan McCallum said: “We are delighted to welcome Friends Provident Foundation as a member of our co-op.”