In an epic last two weeks before share offers closed, Westmill Wind Farm Co-operative – which is to build the UK's largest community-owned wind farm in Watchfield, Oxfordshire – saw applications for shares pour in at a staggering rate, pushing their total to over £4million. This means that the development will definitely go ahead within the next 12 months with construction due to begin this Summer once the contract has been awarded to one of the three firms that have placed bids to construct the wind farm.
The Westmill co-operative has successfully achieved the minimum funding required to construct a wind farm, supplemented by a bank loan, of five 81m wind turbines each generating 1.3MW, which will produce enough energy to power 2,500 home..
The co-operative received 8,000 requests for a copy of the share prospectus, which enabled anyone to buy a stake in the wind farm. There will now need to be a scaling back of some applications due to the overwhelming popularity of the co-operative, with people living within a 50 mile radius of the site having priority.
Westmill founder, Adam Twine, who has been working on this fantastic project for 14 years says the public response around Watchfield has been really positive. "We are excited by the response and the signal it sends to the support for wind farms and for community owned schemes in particular. May this be the beginning of a tidal wave of such projects!".
New members will be welcomed on April 28th when the share certificates will be issued.
