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Whalley Hydro bosses set to sell-off shares
4:36pm Tuesday 1st October 2013 in News
BOSSES at the Whalley Community Hydro are set to sell off shares in the project to raise money to start construction.
Around £750,000 needs to be raised before building work can start in April next year and the directors are hoping that the share sale in early November will raise the vast majority of that total.
The power house, which will generate electricity from the River Calder, will use the movement of the river’s water to create electricity.
The power will then be fed into the National Grid and generate money for other local renewable energy projects.
Chris Gathercole, a director at Whalley Community Hydro, said: “It’s a large amount of money that we are hoping to raise and we are hoping that we don’t have to take out a bank loan in order to top up the total amount of money.
“I hope that the residents in and around Whalley see this project as a great opportunity.”
More details on the share sell off can be found at www.whalleyhydro .co.uk.
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