Welcome to Stockport Hydro
Funding Now available for local projects - Stockport Hydro Environmental Challenge 2017
We are once again pleased to announce we have £2000 of funding available for up to 10 local projects which will benefit the community and take place within the SMBC boundary. For the full details and to apply please go to our News Page
Stockport Hydro, a renewable energy scheme at Otterspool Weir on the river Goyt near Marple, Stockport, is Greater Manchester's first community-owned hydro-electric project. Our two Archimedes screws, Thunder and Lightning, have been operational since October 2012, generating renewable electricity which is fed into the National Grid. We are accredited to earn the Government's Feed-in-Tariff and the Environment Agency has approved our operation to ensure no damage to the river's eco-system and wildlife.
Our income comes from the sale of electricity and the FiTs payment we receive for each unit of electricity we generate. This income is used to offset the costs of the scheme, pay back our creditors and generate a return for our investors who have received 4% and 2.5% return for our first two full years. In addition to contributing to a reduced carbon footprint, we are using surplus funds generated by the scheme to support and invest in a range of local community projects. The whole Project was funded primarily by Community Share Offer, with a supporting grants and loans. Only one third of our 323 Members live in the local Stockport area with others all over the country. We work as a cooperative and all share a common interest in community-based schemes generating renewable energy.
With two Archimedes screws which can operate independently and at variable speeds, we have been able to generate power even at times of low water levels: a first, we believe, for schemes such as this. We generate enough clean, green energy to power about 60 homes, saving over 100 tonnes of CO2 per year or over 4,000 tonnes during the estimated 40 year life of the project. We had a setback in winter of 2014-15 when the plinth supporting Generator-Lightning severed from its foundation. We believe this was due to poor design exacerbated by electrical and software failures. As we have not been able to get the support of either the Civil Engineers or the plant and software suppliers ANDRITZ in resolving the issue we have commissioned a Manchester Civil Engineering company to effect a remedial programme. Once a tender price has been agreed it could take as little as six weeks for Lightning to get back on line. In the meantime Thunder has been working solidly and generated a steady stream of income.
Our Share Offer is currently suspended.
Following a surge of investment in Stockport Hydro ahead of the Government’s ending of the EIS tax rebate scheme, the Directors at their quarterly Board meeting in November decided to suspend offering shares until after the financial year end on 31st March 2016 when the situation will then be reviewed. A limited number of shares may then become available so please email us if you would like to register an interest..
Update from Stockport Hydro Chairman Ben Alexander - "Despite the problems with Lightning, in April 2015 we passed a landmark of 500,000kwh of electricity produced and were able to make our second annual interest payment to shareholders of 2.5%.”To Top of the page