LOCAL individuals have pledged almost £120,000 of their own money backing a project to generate electricity from the River Esk.
The group behind the pioneering green scheme, Esk Valley Community Energy Group, has raised the money from share applications.
It will be used on top of the £240,000 already in place from grants and loans to install a turbine, powered by a fish friendly Archimedes screw, on the River Esk at Ruswarp.
It is thought the turbine will generate around 190,000kWh of energy in a typical year which is enough to light up 55 houses and saves 80 tonnes of carbon each year for up to 40 years.
Esk Valley Community Energy Group is still looking for £200,000 from the purchase of shares and intends to provide investors with a return as well as promoting green energy educational programmes, pioneering green energy apprenticeships and developing a grant system to support further carbon reduction projects in the Whitby and Esk Valley area.
The opportunity to buy shares, between £250 and £20,000 has been extended until next Friday (28 Oct).
As part of National Ethical Investment Week there is a drop-in event on Saturday to provide information about the River Esk scheme.
It is at The Moors National Park Centre, Lodge Lane, Danby from 2pm-4pm.
For more information visit www.whitbyeskenergy.org.uk or contact Colin Mather 01287 669641.