In February 2009 Sustainable Hockerton Limited was established as an Industrial and Provident Society for the benefit of the community. It was born out of a relatively informal village meeting, where residents determined they wanted their community to be more ‘sustainable’.
A more formal approach had to be taken once they determined the way to become more sustainable was firstly to develop an income stream, and determined that would be most cost-effective through investment in a community-owned wind turbine.
The full story can be found in our Story so far, but in summary the launch of SHOCK’s invitation to invest in 2009 led to an investment of £230,000 from 75 members, with 60% of funding from within the area, delivering the funds necessary to install the wind turbine.
Since the commissioning of the wind turbine in 2010, Sustainable Hockerton has paid 5-8% interest on its member’s investments. Variance is due to:
- Repair and maintenance costs, caused by a mix of the wind turbine’s age and problems with the grid connection
- Average wind speed has differed by as much as 23%
To counter these risks, the Society has since invested in three solar PV arrays in the Parish and on a neighbouring farm. These were funded through revenue from the wind turbine and loans from some of the original investors.
If you are interested in hearing about becoming a member please contact us. Note that shares are currently only made available when a current member seeks to transfer their shares, and local residents will be prioritised for membership.
We occasionally share other opportunities via our social media feeds.