GRANNELL Community Energy has announced the launch of its share offer to the public – the first community benefit project of its size in Ceredigion where a 500kw wind turbine has been built.

This is the first time the public are being given the opportunity to become members and buy shares in the community energy project in the Lampeter area.

GCE is managing the project and to date, funding for the project has come from short-term loans from the Development Bank of Wales and an Ynni Lleol Grant. The loans will be refinanced using the money raised from the share offers.

The offer is part of a fundraising exercise by GCE to raise £700,000 in order to fund the initial build of the wind turbine. The community group is inviting people from the local area and beyond to buy shares and become members of the project.

Former Environment Minister, Dr Jane Davidson, a supporter of the project, said: “I am delighted to support this new community wind initiative which demonstrates how local people can benefit doubly from such a low-carbon project.

“Not only is it a low-carbon energy source but at a time when savings are stagnant, shareholders will also earn far better rates as a return on their investment in community wind than through traditional investments.”

Supporters say the project will generate a community fund which is expected to total approximately £5,000 a year (index-linked) to support projects bringing social, economic and environmental benefits to Llanwnnen, Llanfihangel Ystrad and Lampeter.

See this week’s south papers for the full story, available in shops and as a digital edition on Wednesday