Additional Share Offer Now Open
Reading Hydro CBS is opening an additional share offer to help us raise the funds to finish our project The […]
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How hydropower is going to our community
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We’ve made it! £980,000 raised in successful share offer
Reading Hydro CBS is pleased to announce that following the recent reopening of our Share Offer to new investment, we
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Breaking News!!!
Fantastic breaking news – Reading Hydro has received a boost to our share raise, thanks to an offer of a £100k investment from Power to Change. With this we have reached our £700k target! Thank you so much to everyone who has invested.
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Are the interest rates limited?
Once the scheme is up-and-running, we aim to offer 4% interest to investors each year (or at the rate of inflation if that is higher). The rate is not guaranteed, it will be agreed by Reading Hydro members at the AGM and depend on the income and costs during the previous year. You can invest and chose not to receive interest.
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What other examples are there of this type of plant?
There are lots of hydro power schemes in the UK already using Archimedes screw turbines. We have learned and taken inspiration from them. There are five sites nearby on the Thames at Mapledurham, Osney, Sandford, Sonning and Windsor. Reading Hydro is really close to Reading town centre and the railway station, and by far the easiest one to visit!
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Look what happened over the weekend!
Our share raise increased by more than £130,000 over the weekend. We’re getting close – more detail later this week.
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Minimum Target Reached
We hit an important milestone today when our application went passed the minimum amount of £426 K so we are in a position when we can actually start the ordering process. Applications now stand at £435,993 which is 62.3% of the £700,000 total.
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How much Community Benefit will there be?
We estimate the Community Benefit Fund to be approximately £700,000 over 40 years – an average of £17,500 per year. This can be invested into other local actions to tackle climate change. Email us at reading.hydro.cbs@gmail.com with any questions. #rdguk #sustainable #greenenergy
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Investment progress
As you can see we are tracking well ahead of that target line, but there is still some way to go. So please keep up your promotions efforts, and tell your friends about the project. #rdguk #sustainable #greenenergy