Energy Prospects is looking to raise £2.8m through a Loan Note offer paying 4.5% interest per annum. It is intended that the loan note will be repaid after a maximum of 3 years.
The cash will be used to reduce the debt resulting from the purchase of the Mean Moor wind farm.
The Power of Co-operation – Mean Moor Wind Farm
On July 11th 2017, three renewable energy co-operatives, High Winds Community Energy Society, together with Baywind Energy and Energy Prospects, and with the support of the ethical investment company Thrive Renewables, have acquired the Mean Moor wind farm in Cumbria.
The wind farm comprises of three 2.3 MW Enercon turbines across the valley from the existing High Winds two turbines at Harlock Hill in south Cumbria. Through co-operation, the Energy4All family of Co-ops has been able to acquire an existing wind farm from a commercial operator.