Ripple Energy has announced the launch of the UK’s first consumer owned wind farm – Graig Fartha in South Wales – and joined forces with Co-op Energy and Octopus Energy.
On 8 June, Ripple said that to around 2,000 consumers will be able to join the pilot project, with it planning to launch more in future. Customers will buy shares in the co-operative that owns Graig Fartha, set to be operational from early 2021, to own part of the wind farm. Participants can opt to own as little as £250 worth – enough to supply 12.5% of a typical home’s electricity each year – right up to as much as would meet 120% of their annual electricity needs. Ripple estimated that in an average year, customers will be able to reduce their electricity bill by up to 26%.
Co-op Energy and Octopus Energy will ensure delivery of power from the wind farm to its owners’ homes. Customers are able to switch to Co-op to join the scheme, while existing customers of both suppliers are invited to take part.
Sarah Merrick, Founder and CEO of Ripple Energy, said: “The move to a zero-carbon world opens up completely new ways of doing things. You can’t own a bit of a coal or nuclear power station to supply your home with electricity, but you absolutely can own a bit of a wind farm. Huge change is now possible, and people are embracing it.”