There will be carbon emissions from the construction of the hydro plant, but once operating it generates zero-carbon electricity. Averaged over construction and its operating life, a run-of-river scheme like Reading Hydro produces about 0.01 kg of CO2-equivalent for every kWh of electricity generated. That’s far lower than the gas fired (0.45kg/kWh) or coal fired (0.94kg/kWh) electricity that it will replace.
We hit an important milestone today when our application went past the minimum amount of £426 K so we are in a position when we can actually start the ordering process. Applications now stand at £435,993 which is 62.3% of the £700,000 total.
Although we still need the remaining £264,007 we still have 3 weeks until the offer closes.
If you have pre-registered but not applied please apply now to close the gap further.
Also come along to our evening meeting on Monday and lunchtime meetings on Tuesday to find out more and get further updates
We are just short of the minimum target value of £426,000. We have £422,392 committed to the project (60.3% of the £700,000 target), and 22 days left in the offer period. Many thanks to those who have applied, and if you have pre-registered and not applied – get in quick!
Yes you can. If you buy for someone aged over 16, they hold the shares themselves and become a member of Reading Hydro. You may want to buy for younger children or grandchildren, since Reading Hydro is a long term investment with a return that will span the generations. In this case, you hold the shares until the child reaches the age of 16.
In short, no. Our business case is based on expert advice, historical river data and cautious assumptions on future costs and prices. From this, we’ve estimated the annual return to shareholders, the rate at which we will repay your capital, and the amount available for community benefit. But these cannot be guaranteed because, as with any project, there are risks. We’ve outlined the risks in the share offer document, and you should read these before you invest.
Individuals aged over 16, companies and organisation may apply for shares. Parents and grandparents may hold shares in their own name for younger children, until the reach the age of 16. Anyone may apply for shares. However, one aim is to benefit the local community so if the share offer becomes oversubscribed, we will give priority to applications from Reading residents living in Reading Borough Council or postcode areas RG1-6 and RG30-31, and to those who have pre-registered their interest.
We would like to say a huge thank you to Reading Farmers Market who so kindly let us come to their events. We were able to speak to lots you from the local Reading community and tell you all about our exciting hydro power scheme.
We plan to be there again on the 1st February, Come an see us there!
The Cattle Market, Great Knollys Street, RG1 7HD, from 8.30am – noon
We would like to invite you to our Open Information Sessions. This is a chance for you to meet our Directors and to ask any questions you have on Reading Hydro, the Share Offer and the hydro-power scheme that we want to build on the river Thames, by Caversham Weir.
Monday 27th January from 7.30pm – 9pm at Watlington House, 44 Watlington Street, RG1 4RJ
Tuesday 28th January from 12.30pm – 2pm at Reading Borough Council Civic Offices, Bridge Street, RG1 2LU
Please feel free to pop along, no registration needed. We look forward to meeting you or if you cant make it, and have questions, please email us at email@example.com
The hydro will usually generate electricity 24/7. However, generation will stop when the river’s flowing so fast that there’s not enough ‘head’ of water between the inlet and the outlet. We may also be required to stop if the river flow is very low. In our business plan we’ve modelled electricity generation using historic data on head and flow at the site. The hydro scheme should generate about 320MWh of renewable electricity each year: that means that on average it works at 79% of its maximum power output. Generation is likely to be a bit higher in the winter than in the summer, which fits with when the UK most needs electricity. We hope to start generating next winter.
A new fish pass will be made as part of the hydro power scheme. It is a natural design and allows both fish and eels to move upstream and will improve the river environment.
The fish pass will cut into View Island from the mill stream, to the east, where there will be a sluice. From there the ‘technical section’ will run gently downhill to join the existing streambed, and water will flow along this towards the hydro scheme. It will join the river immediately adjacent to the turbines and create an attraction flow for fish. It will be as it is today, a natural and unbounded area forming part of View Island.