Totnes Weir Scheme Opens for Investment
April 28, 2015
Work has begun on Totnes Weir to build a 300 kW hydro scheme, with Atmos Totnes being one of two potential key recipients of the energy generated alongside KEVICC. The scheme is being developed by Dart Renewables and once built, the turbine will generate 1,200 MWh of renewable energy every year, enough to power the equivalent of around 280 homes.
The construction of the Totnes Weir scheme will include the installation of a modern fish pass which allows the fish to pass the weir and continue their journey upstream to spawn. It is expected that this will reduce salmon and sea trout losses in the river Dart and over time increase the population of these species in the river Dart catchment.
Triodos Bank is helping Dart Renewables raise the £1.3 million needed to build the hydro power scheme through a Bond Issue. Local investors are being offered the opportunity to invest a minimum of £2,000, with the minimum for those living further than 15 miles from Totnes being £10,000. Investors could earn up to 8% return a year for up to 8 years. To find out more about the share option click here.