Membership is now open for the world’s largest consumer-owned wind farm, which is located in Ayrshire, Scotland.
Ripple Energy’s 18.8MW Kirk Hill wind project will host eight turbines and is pioneering a cooperative ownership model in the UK.
Under this model, Ripple offers households and businesses the opportunity to own their own source of low-cost green electricity as well as reduce and stabilise their electricity costs for the long term.
Ripple Energy chief executive Sarah Merrick (pictured) said: “Owning part of a wind farm is the easiest way to protect yourself from future energy price spikes.
“Wind delivers clean, stable priced power for the long term. We want as many people as possible to benefit, whilst also reducing their carbon footprint.
“The current energy price crisis is hurting households across the country. With Ripple, people take control of their energy costs, creating a greener future at the same time.”
Ripple enables households to buy part of a wind farm to power their home, helping to slash their energy bills and reduce their carbon footprint.
Households can sign up to Ripple, join the cooperative and buy shares in the wind farm in a few minutes.
Ownership is flexible, starting at just £25 and people can even generate more clean power than they use, as the cap on ownership is the equivalent of 120% of their consumption.
Around £1700 will purchase enough of the wind farm to power the typical UK home.
The Kirk Hill wind farm is now open for share purchases.
With over 4600 reservations, Ripple said its biggest project to date is expected to sell out quickly, as people look for new solutions to stabilise their bills and simple ways to make a real climate impact.
Ripple’s first wind farm, Graig Fatha, in Coedely, South Wales, completed construction in December 2021.
Graig Fatha’s 907 owners are estimated to save around £275 on their electricity bill in its first year of operation, largely driven by the high market prices.
The wind farm is expected to be energised in March this year.
Ripple is working with new suppliers including So Energy and Unify Energy in anticipation of them becoming supply partners in the coming months, to deliver clean energy to homes and businesses across the country, alongside its existing supply partner Your Co-op Energy, powered by Octopus.
In addition to passing savings to Ripple’s members, the Kirk Hill wind farm will provide a community benefit fund of £94,000 per year.
The Co-op will work with the local community to determine the best approach to manage the community benefit fund.
Ripple stated it intends to focus the fund on fuel poverty actions or environmental projects and will be conscious of other local needs when directing exactly how the fund is to be used.
Michael Chamberlain, a Ripple member, said: “I am proud to be a Ripple member as it is a pioneering model that facilitates individuals and families to directly join with others to collectively reduce or eliminate their carbon footprint by co-investing in a source of renewable energy.
“It is also the first option that separates the home from the generation which makes it accessible to more people.”