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Neen Sollars hydropower project share offer oversubscribed
7:10am Wednesday 13th June 2012 in News
A SHARE offer to finance a hydropower project at Neen Sollars was oversubscribed.
Neen Sollars Community Hydro Co-operative (NSCH Co-op) Ltd has announced the completion of its share offer to finance the Tetstill Mill scheme.
Local social enterprise Cleobury Country Limited bought the first share as part of its commitment to the project, which was five per cent oversubscribed. The majority of shareholders are from the Cleobury Country area, although some are from as far as London Bill Duley, of NSCH Co-op, said they had now placed orders for the key equipment and were hopeful the unit could be producing electricity before the end of the year.
NSCH Co-op will build a 12.5 kW hydroelectric installation at Tetstill Mill on the River Rea. It is intended to produce green electricity to the local electrical grid, providing around 20 per cent of the domestic power use in the village of Neen Sollars and locally meeting the national target of 20 per cent renewables.
It is the first harnessing of the large water power potential of the Rea since the last watermills were phased out in the 1900s.
The project is hoped the project will be a beacon for the region, as it will be one of the few renewable energy installations in the West Midlands and the first one to be community owned in this way.
The project has been conceived and carried out by local people and is working alongside wider attempts to improve the ecological status and sustainability of the Rea catchment.
For example, a fish ladder - the first of four on the river - was installed at the site in September, 2010 to allow salmon to travel upriver and designed to be compatible with the hydropower installation.
For information on developments visit the Neen Sollars Community Hydro website, at sharenergy.coop/neensollars/