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Chance to co-own Lancashire wind farm

A renewable energy company is offering people the chance to co-own a wind farm by taking part in an £8m public share issue.

Triodos Renewables runs Caton Moor Wind Farm, a group of wind turbines in an upland area east of Lancaster and Morecambe Bay.

It is issuing around 4.2 million shares at £1.90 per ordinary share, with a minimum investment of £570.

The firm said all proceeds would be invested back into building new onshore wind power assets, to expand its portfolio of eight renewable energy projects in the UK.

Triodos Renewables managing director Matthew Clayton said: “We are giving investors the opportunity to participate directly in the energy revolution.

“The UK is at a crossroads at which choices need to be made that will decide where our energy comes from in the future.

“Our share offer allows investors mindful of climate change, energy security issues and the need for transition to a safe and sustainable energy future, a chance to make a real difference and expect a good return.”

Set up in 1994, Caton Moor was one of the UK’s earliest commercial wind farms, at the time generating 11 per cent of the UK’s wind energy output.

With a total capacity of 16 MW, the 55m high wind turbines generate enough energy for 10,000 homes.

For 2011, Triodos Renewables is paying a 4p dividend.

Over the past year the share price has increased 10p to £1.90 per share.

Those who invested in 2006 have seen capital growth of 50p and total dividends of 16p per share – a 6.8 per cent return.

The deadline to apply for the shares on offer is 3pm on 31 August.