Louise Downing, BLOOMBERG
Triodos Renewables Plc is turning to punk fashionista Vivienne Westwood’s crowdfunding site to raise 5 million pounds ($8 million) to build power plants in the U.K.
Triodos started fundraising today with Trillion Fund, an Internet platform that seeks cash for wind and solar plants in the U.K., the unit of Dutch ethical lender Triodos Bank NV said in an e-mailed statement. People can invest as little as 50 pounds with the share price set a 2.28 pounds.
“We’ve decided to lower our minimum investment because we believe that investing in renewable energy should be an option to everyone,” Matthew Clayton, executive director of Triodos Renewables, said in the statement.
The offer is open to both new and existing shareholders. The money will go mostly on developing onshore wind farms. The fund is also considering small hydropower plants.
Triodos owns and operates 11 sites in the U.K. with a combined capacity of 53.4 megawatts, enough to power 34,200 homes, it said in the statement. It’s developing two sites in Cambridge and two in Scotland and aims to reach 125 megawatts of operating capacity by 2020.