Ripple Energy has secured over £1m from the Welsh Government for the Craig Fatha consumer-owned wind farm
The wind farm, which will be located near Coedely in South Wales and which is due to be completed by autumn 2021, will be owned by an initial 675 households who have already signed up to the platform and who have collectively funded over £1.3m.
All members will receive green electricity directly from their share of the wind farm, saving up to 25% on their electricity bills each year across the wind farm’s 25 year lifetime.
Further households can sign up to the Ripple Energy platform and purchase a share of the new wind farm for as little as £25.
Income generated from the Welsh Government’s supported portion of the wind farm will be channelled towards initiatives supporting people facing fuel poverty in the local area, through the wind farm’s Community Benefit Fund (CBF).
Sarah Merrick, CEO and Founder of Ripple Energy, comments: ‘This is the moment we’ve been waiting for. Come Christmas, Ripple’s members will be supplied with green electricity from their very own wind farm. This is a first for the UK. It shows people can play a really active role in the UK’s clean energy future.
‘Ripple’s mission is to make clean energy ownership affordable and accessible. We’re hugely grateful to the Welsh Government for its involvement in making that a reality. For too long, people have been sidelined; now they can share the benefits of green energy direct. This is just the beginning of us putting the power in the hands of household consumers.’
In related news, a new report published by Rethink Energy has highlighted that Wind power set to dominate the global electricity sector in the coming decade.
According to the report, China will be the largest proponent of this growth, accounting for 36% of additions over the next decade. The US represents the second-largest market, accounting for 15%.
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