Locals are being invited to invest in an energy scheme aimed at generating hydro-electric power and cutting carbon emissions.
The Esk Valley Community Energy Group is launching a share issue on Wednesday aimed at raising £320,000, on top of loans and grants worth £240,000, to install a small-scale hydro-electric turbine on the River Esk at Ruswarp in North Yorkshire.
Colin Mather, chairman of the project’s steering group, said: “Our aim is to reduce the community’s contribution to climate change by minimising carbon dioxide emissions.
“Esk Energy has brought together community expertise in engineering, farming, architecture, planning, business, law and accounting and, over the last four years, has worked with the Environment Agency, North York Moors National Park and River Esk Action Committee to develop a scheme which will not only generate green electricity but improve the ability of salmon and sea trout to travel up-stream over the weir.”
Michael Fairclough of the Co-operative Group, which is offering advice to the scheme, said: “The co-operative model offers an alternative way to do business, a robust approach to enterprise that can contribute to the re-building of a more balanced and sustainable economy.
“As concern for sustainability, ethical trading, environment and accountability continues to grow, more and more people are turning to the co-operative model. This is another example of how co-operating can help to address some of the unprecedented challenges currently facing society, the environment and our economy.”