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. 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.