Distgen (the trading name for the group parented by Participa Ltd) operates a fleet of refurbished community-scale Vestas wind turbines across the UK, positively contributing to the move from centralised fossil fuel generation to distributed renewable generation.

The bond offer by Distgen Westray LGC Ltd, a subsidiary of Participa Ltd, will partially repower their existing operational turbine on the island. This involves updating the technology with the aim of extending the lifespan, improving the efficiency, optimising the power output capacity and reducing operation and maintenance costs.

 John Zamick, founder and CEO of Distgen, said:“Since 2005, we’ve focused on creating a circular economy model for wind turbines and getting the most out of their productive life. Wind is a cornerstone of achieving net zero, acting as a cost-competitive, resilient power source with the most decarbonisation potential per megawatt – and refurbished turbines make even better financial sense and have a lower carbon footprint.”

“We’re excited to have found so many like-minded investors in this short amount of time to support our work and, in particular, our profitable turbine in Orkney.”

The minimum investment in the crowdfunding offer was £50 and the company will deliver 7.75% return per year. As with all investments, interest payments and return of capital are not guaranteed.

Jeremy Pannell, Senior Corporate Finance Manager at Triodos Bank UK: “We’re really pleased to have filled this bond offer with Distgen Westray so quickly – we know that our crowdfunding community is always interested in impactful renewable energy projects.

“British-based renewable energy is a cheap and fast way for the UK to reduce its vulnerability to the volatile global fossil fuel markets and it’s great to be able to offer a FiT subsidy-backed investment. We are passionate about giving people the opportunity to invest in renewable energy and particularly repowering projects because it goes beyond gigawatts generated or the equivalent number of homes powered - it empowers people to feel part of the solution to issues like climate changes and social inequality.

“Repowering plays such a critical part in bolstering the energy output of existing projects and is a compelling ecological and environmental alternative to decommissioning existing wind farms and installing new turbines.”

Distgen’s High Availability for Extended Operation life (HAXO) programme has been implemented to ensure a reliable operation of its fleet of turbines. In addition to this, 100% of the generated electricity will be exported under a confirmed 12-month Power Purchase Agreement for the year ending 31 March 2026.

-Ends-

For further information please contact:
Ellie James, Triodos Bank UK

Notes to editors

About Distgen

Distgen has been operating since 2005 with the express intent of making a positive difference in the world by contributing to the move from centralised fossil fuel generation to distributed renewable generation. Through this, the organisation works to democratise the ownership of generating assets and sharing of the benefits as locally as possible.

With an entire installed capacity of 3.7MW across its fleet of turbines, Distgen has produced over 65,939MWh of clean energy.

About Triodos Bank

Founded in 1980, Triodos Bank has become a frontrunner in sustainable banking globally. As an independent bank that promotes responsible and transparent banking, it does not see any conflict between a focus on people and the planet and a good financial return. Instead it believes that they reinforce each other in the long-term.

Triodos Bank has banking activities in the Netherlands, Belgium, the UK, Spain and Germany, as well as Investment Management activities based in the Netherlands but active globally. Triodos Bank co-founded the Global Alliance for Banking on Values (GABV), a network of sustainable banks. Together these banks want to grow sustainable banking and its impact on the real economy substantially.

Triodos Bank UK Ltd is a wholly owned subsidiary of Triodos Bank NV. Registered Office: Deanery Road, Bristol, BS1 5AS. Registered in England and Wales Company No. 11379025. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 817008. VAT reg no 793493383.