Dart Renewables

Case Study

  • 300kW hydro power scheme at the Totnes weir on the River Dart
  • Capital raise from investors through bond and share offers
  • £1.6m raised in 2015, with a £1.8m refinance in 2018
  • Thousands of investors reached through the Triodos Bank crowdfunding platform
    It’s a perfect fit – the additional environmental benefits and community engagement that we want to do as a company are really important to Triodos investors too.
    Pete Kibel, Dart Renewables

     

Dart Renewables Limited, the operator of the Totnes Weir hydro power scheme, is gave locals the chance to invest in clean, renewable energy generation as part of a crowdfunding push. The company refinanced to raise a total of £1.8 million through a ten-year bond paying investors 5% per year interest (inflation linked). The bond was promoted by Triodos Bank on their crowdfinding platform

The twin turbine 360 kW hydro scheme has been operating for over two years. In the 12 months to 31 January 2018, it generated over 1,330 MWh of clean electricity - enough to power the equivalent of approximately 320 homes and save the equivalent of 600 tonnes of CO2. The electricity generated from the scheme is already used to power a local school, King Edward VI Community College (KEVICC), as well as an aluminium foundry in Totnes, with surplus electricity generated sold to the grid.

The hydro scheme incorporates a modern fish pass, allowing salmon and sea trout to move past the weir in order to reach historic spawning grounds on Dartmoor. Over time, fish numbers should increase, leading to ecological restoration of the whole river. Dart Renewables also provides tours and educational sessions on-site for local school children. Find out more by watching the video below

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Find out more about our Renewable energy and environment team who help organisations finance renewable energy and other environment sector projects.

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