Ripple Energy’s first wind turbine, dubbed Graig Fatha, has begun operation in Coedely, South Wales.
The site is the UK’s first consumer-owned wind farm, the company said, with £2.2 million of funding provided by over 900 owners. Additionally, the Welsh Government contributed a £1.1 million grant.
This project demonstrates how wind farm ownership can free consumers from volatile, high energy prices and dependence on imported energy,” said Sarah Merrick, CEO of Ripple Energy.
“Ripple’s 907 members will be generating their own low cost, green energy for the next 25 years. This shows better energy solutions, that give people real power, are available today.”
Owners of the wind turbine – which celebrated the start of operation with a light display that projected each owners name on Graig Fatha – will save on average 25% on their energy bills annually across the site's 25 year lifespan.
Given the current high power prices, the average owner is set to save £340 over the coming year, Ripple Energy said. Most owners have enough shares in the turbine to cover their entire homes’ consumption.
The electricity generated by Graig Fatha is sold to Co-op Energy, which is powered by Octopus Energy, and then supplied to the turbines owners at a discounted price.
Ripple Energy was founded in 2017, and its business model unveiled in 2019. In 2020, it officially launched after entering into a deal with Octopus Energy and Co-op Energy.
The company’s second windfarm in Ayrshire, Scotland is now open for membership.
Ripple Energy’s project manager Jamie Adam is set to talk as part of the ‘Establishing a more flexible grid: Opportunities in providing flexibility’ webinar, hosted by Current± for the Energy Networks Association on 13 April. To join the session, sign up here.