Linton Hydro Ltd has successfully raised £3.3m through the Triodos impact investment crowdfunding platform from both retail and institutional investors.
The company own and operate two adjacent hydropower schemes at Linton Lock on the River Ouse in North Yorkshire. The schemes successfully generate enough clean electricity to power the equivalent of approximately 450 homes and supply electricity directly to a local free-range egg farm.
The scheme has undergone several enhancements through Linton Hydro. These have included an innovative Larinier fish pass, which is helping to boost the river’s fish population by allowing easy access to traditional upstream spawning grounds. In addition, through collaboration with British Canoeing a white-water canoe course has been incorporated into the design to facilitate recreational and competitive canoeing without impacting fish migration.
The investment will enable Linton Hydro to repay its existing bondholders and some of the shareholder loans that were used to finance the construction and improvement of the schemes.
Dave Mann, director of Linton Hydro Ltd, said: “We can’t thank our investors enough for getting behind our investment offer and helping us to raise this capital. Hydropower schemes are key in helping to generate clean electricity in the UK which is important for now and for the future.
“Knowing that the enhancements we made to the scheme are having a positive effect on the river’s fish population and that the white-water course will soon be used by both novice and competitive canoeists makes it a very special scheme indeed. People will be able to see the impact of their investment long into the future.”
Dan Hird, head of Corporate Finance at Triodos Bank, said: “Supporting renewable energy generation is a key part of our business and we were delighted to offer this investment in Linton Hydro, which proved to be really popular with our investors.
“This bond also attracted several new investors to our crowdfunding platform, and we hope they enjoy sharing the transformative effects these kinds of investments have on the organisations they support. We also look forward to providing them with more opportunity to invest in ground-breaking and impactful projects over the next few months.”