Key info
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Focus area
Social lending -
Asset class
Social lending -
Region
United Kingdom -
Duration
4 years -
Investment amount
£75,000 -
Cost of capital
7%
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Challenge
Redruth, once the centre of Cornwall’s mining industry, highlights the challenges that many communities in the UK face. Two in five are unemployed, often facing issues including fuel poverty and rising food prices.
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Approach
Local residents are working together to find their own solutions to address issues in their communities. Near Redruth, Ecodynamic has installed a wind turbine to provide green energy and provide consistent revenue to support local projects.
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Revenue model
The £350,000 for the project has been funded through a combination of community shares and loans. The investment will be repaid from revenues from feed-in tariffs generated by the wind turbine which is estimated to be around £45,000 a year.
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Impact
Profits from the wind turbine will be reinvested to support organic, biodynamic farming, a grassroots projects for community benefit which will create local apprenticeships and provide high quality, local food for families on a low income.
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