The three hill farmers behind Cwmni Gwynt Teg (which means "fair wind company") already have three wind turbines on their land on a mountain called Moel Moelogan. Last June the farmers won an Ashden Award for setting up the wind farm co-operative. The award is given to outstanding and innovative renewable energy projects, which are thought to be inspirational to others. Now they aim to add another nine turbines and say the local community should get a chance to share in the profits, keeping the site under 100% co-operative control.

A newsletter inviting people to ask for a prospectus was sent to about 15,000 homes in the rural Conwy area after Christmas. By yesterday 265 people had asked for further details. Many will have been buoyed by news that in November each of the existing turbines at the site produced almost enough electricity for 1,375 homes for a month. The night before last, members of the public viewed an exhibition in Llanrwst on the proposed Ail Wynt ("second wind") scheme for Moel Moelogan.

Rheinallt Williams, one of the farmers involved, said the aim was to raise between £1m and £1.5m through the investment bonds. The minimum investment required would be about £500, but Mr Williams said some people might invest £10,000 or £15,000. If the full amount is not raised from within rural Conwy the opportunity will be extended to residents in the rest of Conwy county including Llandudno and Colwyn Bay. Backers should get a return of about 8 The community investment scheme, the first of its kind in the UK, is being managed by Triodos Bank, a Dutch company specialising in ethical banking and investments. Mr Williams said many wind farms in the Netherlands, Denmark and Germany had been funded locally to maximise the benefits to the home area. He said Triodos Bank would establish a method for bonds to be traded locally, so that investors would be able to sell to other people in the area.