Share issue extended for water energy

An Archemedes' screw system similar to the one planned for Ruswarp
An Archemedes' screw system similar to the one planned for Ruswarp
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THE COMMUNITY share issue for the Whitby Esk Energy project has been extended until 28 October.

Applications for over £100,000 worth of shares in Esk Energy (Yorkshire) have been received to help fund the Whitby Esk Energy project.

As this is short of the £320,000 the directors have looked at ways of raising the remainder of the funds needed.

A spokesperson for Esk Energy said: “Expressions of interest have come from people who have just heard about the project, and others who have asked if they can increase their shareholding as they are keen to help realise the project.

“The group are also looking to approach companies, with a corporate share issue, with a view to matching the community share issue.”

The directors will meet on 2 November to make a final decision as to whether it is financially viable to go ahead with the project.

The Esk Valley Community Energy Group plan to install a 50kw hydroelectric turbine at Ruswarp in the hope of producing “clean” energy and reducing the carbon output of the area.

The group also hopes to use any revenue created to fund further green projects and says that surplus money earned will be used to develop and operate a grant system to assist local people with the installation of solar, wind and water energy generating systems, promote green energy educational programmes, and provide green energy apprenticeships.

Further details on the project or to apply for shares, visit www.whitbyeskenergy.org.uk or contact Colin Mather on (01287) 669641.