Shares in the Wind
Ethical finance company Triodos Bank has launched a share issue allowing people to invest in the flourishing renewable energy industry.
The share issue aims to raise £5m from the public to invest in projects across the UK. The Triodos Group has financed over 150 wind farms. The bank has financed projects such as the Haverigg II Wind Farm in Cumbria and the Beochlich hydro electric project in Argyll.
As well as a direct stake in clean energy projects such as wind farms, the bank is luring shareholders to the Triodos’ Renewables shares scheme with projections of annual dividends rising to over 12% within 5 years. The fund plans to invest the money it raises in a variety of developments, including projects helping farmers to find alternative sources of income, acquisitions of some of the UK’s new renewable energy projects and a small stake in a large offshore project.
Chair of Triodos Renewables is former head of Friends of the Earth Charles Secrett, who declared: ‘Investors will share in the ownership of inspiring projects which harness the power of natural resources to provide clean energy for tens of thousands of people.
‘With wind farms becoming increasingly efficient using tried and trusted technology, and clear government incentives for clean energy generation, the UK has become a land of opportunity for renewable energy investment,’ said the bank’s James Vaccaro.
Key sectors receiving financing from Triodos include organic food and farming, renewable energy, social housing and Fairtrade.