UK start-up company Ripple Energy has launched what it hopes will be the first consumer-owned wind farm in the UK.
The consented Graig Fatha project in South Wales will feature a single Vensys 100 2.5MW turbine and is due online early next year.
Ripple is partnering with Co-op Energy and Octopus Energy to get the electricity from the wind farm to its owners’ homes.
Customers can switch to Co-op Energy to join the scheme, while existing Co-op Energy and Octopus Energy customers are also invited to take part.
Consumers will own part of the wind farm by buying shares in the co-operative that owns Graig Fatha.
Around 2000 customers will be able to join this first pilot project. Ripple plans to launch more projects over time.
The upfront cost for a typical household would be around £1900 (€2131).
This share of the wind farm would expect to generate enough electricity to meet the needs of a typical household for 25 years.
People can choose to own as little as £250 worth – enough to supply 12.5% of a typical home’s electricity each year – up to as much as would meet 120% of their annual electricity needs.
Ripple estimates in an average year customers can reduce their electricity bill by up to 26%.
Ripple Energy founder and chief executive Sarah Merrick said: “What could be better than owning a bit of a wind farm to supply your home with renewable, low cost power. People are ready for change. They want to create a better, cleaner future and we can enable them to do it.
“The move to a zero-carbon world opens up completely new ways of doing things.
“You can’t own a bit of a coal or nuclear power station to supply your home with electricity, but you absolutely can own a bit of a wind farm. Huge change is now possible, and people are embracing it.”
Co-op Community Energy managing director Tom Hoines said: “Co-op Midcounties have been working with Ripple for a number of years, and we at Co-op Community Energy are thrilled to continue to support their first site at Graig Fatha.
“The partnership with Ripple is a significant milestone in changing the way in which we power the UK, giving more people the opportunity to directly own how their electricity is generated.
“As the leading supporter of renewable, community generated power in the UK, Co-op Energy and Co-op Community Energy is now working with more than 80 community generation projects, providing expertise and ensuring that generators are paid a fair price.
“Making a positive difference is fundamental to our cooperative values and we’re proud that anyone joining Ripple will be helping to decarbonise the planet while supporting local communities, not just at Graig Fatha, but across the country.”
Octopus Energy chief executive Greg Jackson said: “Affordable investment in your own clean, green wind farm is a huge leap forward for the energy grid of the future. Investing in more renewable energy and powering your own homes when the wind is blowing can end our reliance on dirty fossil fuels faster than we hoped.
“We’re excited to get to work with Ripple Energy to make this investment more accessible and affordable than ever before.
“Soon anyone can benefit from the ‘green dividends’ this will provide, offsetting their own energy bills with an investment in the energy grid of the future.
“We’re proud to be championing community energy projects such as these and leading the way in innovative solutions to the climate crisis.”