E2 Energy wind turbine crowdfund reaches £280000
E2 Energy wind turbine crowdfund reaches £280,000
A crowdfunding project seeking to raise £1.25 million to install wind turbines across the UK has reached £280,000. The money is being raised through Trillion Fund and the project offers investors an attractive 7.5% return.
Investors can put as little as £50 into the E2 Energy project and if they invest before July 31 could receive a fixed 7.5% annual return over a three-year period. Those investing after the deadline will be offered a 7.25% return. The rate offers an attractive proposition for investors.
The money raised will be secured against five fully functioning single installation wind turbines located in Yorkshire and South Teeside. Around 80% of the money generated will come from feed-in tariffs, which are secured for 20 years. These two factors give investors some additional security, although risks are still involved.
E2 Energy is a joint venture between manufacturer Endurance and turbine supplier and installer Earthmill. The sites where the turbines will be installed already have planning permission. The 50-megawatt (MW) turbines will not form part of a large farm but instead will stand alone in rural areas and power a single location, such as a farm or business park.
When the crowdfunding campaign launched, Julia Groves, managing director of Trillion Fund, commented, “Wind profits do not have to be just for wealthy landowners – they can go to everyone. And we are all ultimately paying for feed-in tariffs, so we might as well be making a return on them too.
“Renewable energy projects offer unique, asset-backed returns, because they generate a steady, relatively predictable income flow from the feed-in tariff they receive and the electricity they send to the grid.”
Trillion Fund have announced they are to merge with Buzzbnk, creating the UK’s largest social crowdfunding service. The merger could allow up to £500 million to be raised by 2017 to support renewable energy and social business projects.
Photo: Attilio Lombardo via Freeimages