Efforts to raise funds for a 49 kW micro hydro plant in Oxford have netted more than US$195,000 since shares in the project were first offered earlier this week, though developer West Oxford Community Renewables (WOCoRe) said there is still work to be done.
Osney Lock Hydro — an industrial and provident society launched by WOCoRe for the purpose of raising funding for the project — must still nearly double its investments by May 7 to reach its $384,000 goal, according to the group’s website.
The money must be raised by May 7, WOCoRE said, to coincide with civil engineering work being done by the United Kingdom’s Environment Agency this summer.
The project would be powered by an Archimedes screw hydropower system installed on a small island adjacent to Osney Lock on the River Thames, WOCoRe said, which has already been granted an initial Environment Agency lease of 50 years.
If funded, the group said the plant could be generating hydroelectric power by February 2014.
The Osney Lock hydropower project is part of a West Oxford community initiative to reduce its carbon footprint by 80% by 2050.
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