Westmill Wind Farm Co-operative, which plans to build the UKs largest community-owned wind farm in Watchfield, Oxfordshire, has raised 1m since it launched its public share offer just seven weeks ago.

The co-operative, which has so far received over 6,000 requests for a copy of the share prospectus, which enables anyone to buy a stake in the wind farm, was thrilled to see cheques flooding in straight after the Christmas and New Year break.

The swift response from hundreds of members of the public, has reassured the board of Westmill Wind Farm Co-operative of the strength of support for its ground breaking project.

The co-operative, which launched its share offer on November 22, is looking to raise a total of 3.75m to finance the purchase and construction of five wind turbines. This money will be supplemented by a bank loan.

Organic farmer and green enthusiast Adam Twine, on whose land the wind farm will be sited, said: We have been overwhelmed by the swift response to our share issue. Bearing in mind the time required for people to request, receive and absorb the information contained in the prospectus and that fact that the Christmas and New Year break occurred shortly after our launch, we were expecting a slow start to January.

However, with the news agenda dominated by stories about fuel shortages, spiralling energy costs and concerns about nuclear power, support for green energy projects is clearly strong. The co-operative gives people a chance to do something positive for the environment and the projected long-term returns are very attractive.

The Westmill Wind Farm Co-operative public share offer is expected to remain open until the end of February. The co-operative has promised that people living within a 50-mile radius of the site will have priority to buy shares if the scheme is over-subscribed.

The turbines are expected to become operational by the end of 2006 and will provide enough green electricity to power more than 2,500 homes.

Annual interest will be paid on members shares from trading surpluses from the sale of the electricity. Rates will vary according to financial performance. However, they are expected to be approximately five per cent annually in the first five years rising to an average of 12 per cent over the 25-year life of the project.

Membership will be available to anyone. Each share is worth 1. The minimum investment is 250 and the maximum is 20,000. The original investment will be returned in full when the wind farm is decommissioned at the end of the 25-year duration of the scheme.

Important Notice
The information given is intended as a general introduction to the opportunity detailed in the prospectus, which sets out the basis upon which shares may be acquired in Westmill Wind Farm Co-operative Ltd. The sole purpose of the limited and general information included in this release is to introduce the opportunity detailed in the Prospectus and this introductory information should not be relied upon for investment purposes.