Share offer launched for Stockport community hydroelectric scheme
A share offer has been launched to raise funds for Greater Manchester's first community-owned hydroelectric scheme.
Stockport Friends of the Earth are supporting the scheme, which would be situated on the River Goyt.
In addition to generating electricity, the scheme will donate any surplus income to local environmental and community projects.
h2ope, who are managing the development of the scheme on behalf of Stockport Hydro, have been working closely with Stockport Borough Council to make the project a reality.
"It's brilliant that Stockport will have the first community-funded hydro in Greater Manchester."
The hydroelectric scheme has already secured funds of £385,000 and needs to raise another £165,000 so that construction can start on site in spring 2011.
Shares cost £1 with a minimum shareholding of £250, and the closing date is 21 February.
Stockport Hydro Ltd will be run as a co-operative for the benefit of the community on a one-member, one-vote basis.
Download the Share Offer Prospectus from h2ope for more information.