New Mills green energy project seeks £25,000 from community investors to upgrade hydroelectric plant

Torrs Hydro New Mills Ltd, the country’s first community-owned and funded hydro-electric scheme, is seeking to raise £25,000 from investors.

The hydro-electric plant, at the confluence of the Goyt and Sett rivers, was built in 2008 but technology has been developed since which could see the plant increase annual energy output by around 30 per cent.

Project director Mary Cohen said: “Torrs Hydro is a great example of people working together for the benefit of both local and wider communities, and to address climate change."

“This share offer is a great opportunity for more people to join in making it happen.”

Power from the plant is generated using a reverse Archimedes screw, nicknamed Archie. Currently it can only turn at a fixed speed and it is not possible to generate when the water level is very low or very high.

The proposed modifications will introduce a ‘variable speed’ system which can work when river levels are more extreme, thus increasing operational time.

Funding for construction of the plant included £126,000 of community share investment.

Each shareholder is a member of the organisation, and has an equal say in its running. Members receive a modest return and the remaining surplus is fed into a community fund.

For more information, email [email protected] or call 01663 747603.