Ripple Energy wind farm?

Coastalwatch

S'funny, but I was only thinking yesterday about our anticipated ROI from the stake we placed with Ripple. On last years cost of wholesale leccy when the offer was first placed it was close to 7%. This morning I came across the headline and statement below in my inbox from them. Also yesterday, I secured a stake in their second wind farm due to come out later this year.

Electricity prices set to soar for millions of UK households from October

Ripple Graig Fatha members set to enjoy bumper electricity bill savings in wind farm’s first year of operation

Whilst wholesale prices have increased significantly in recent months, the projected cost of operating the wind farm has not. This means Ripple member savings will be significantly higher than the initial estimates provided when they first signed up. Ripple launched the share offer for Graig Fatha, the UK’s first consumer owned wind farm, in summer 2020. At the time, wholesale electricity market prices were very low, in part due to the Covid lockdowns.  Members signing up at that point were given an estimated savings of less than 4p/kWh during the first year. Fast forward 15 months and the market price is considerably higher. Ripple now expected its members savings to be around 8p/kWh for at least the first year of the wind farm’s lifetime. This is double the level estimated initially.

JKenH

Coastalwatch said:

S'funny, but I was only thinking yesterday about our anticipated ROI from the stake we placed with Ripple. On last years cost of wholesale leccy when the offer was first placed it was close to 7%. This morning I came across the headline and statement below in my inbox from them. Also yesterday, I secured a stake in their second wind farm due to come out later this year.

Electricity prices set to soar for millions of UK households from October

Ripple Graig Fatha members set to enjoy bumper electricity bill savings in wind farm’s first year of operation

Whilst wholesale prices have increased significantly in recent months, the projected cost of operating the wind farm has not. This means Ripple member savings will be significantly higher than the initial estimates provided when they first signed up. Ripple launched the share offer for Graig Fatha, the UK’s first consumer owned wind farm, in summer 2020. At the time, wholesale electricity market prices were very low, in part due to the Covid lockdowns.  Members signing up at that point were given an estimated savings of less than 4p/kWh during the first year. Fast forward 15 months and the market price is considerably higher. Ripple now expected its members savings to be around 8p/kWh for at least the first year of the wind farm’s lifetime. This is double the level estimated initially.

But aren’t we expecting electricity prices to fall as more wind turbines are built?

Going forward, the weighted average cost of electricity in the G20 countries from offshore wind could fall by almost 50% by 2030 from 2019 levels, onshore wind by around 45%, utility-scale solar PV by up to 55% and concentrated solar power by 62%. 

https://www.powerengineeringint.com/renewables/irena-wind-and-solar-costs-will-continue-to-fall/

Coastalwatch

Yes indeed. But that's only if sufficient wind and Solar are built to fulfil the nations needs, which is highly unlikely given the Government's lack of ambition in these areas combined with it's appetite for very expensive Nuclear.

In addition, the great British public seem to be obsessed about objecting to any and everything to do with renewable energy whenever planning proposals are submitted. A bit like some of the respondents on this forum.

I've no idea what the future holds, but more than happy with settling the wholesale cost of our energy for the next 25 years at 2p/kWh. Equally happy, that others choose no to do so.  

Coastalwatch

Just been on the MSE energy club website to discover that the next best rate to that which we are on, Octopus Go, is 10p/kWh more! Phew!

Verdigris

Just reserved my place for the next wind farm project.

legoman62

Verdigris said:

Just reserved my place for the next wind farm project.

I'm in!

Verdigris

It'll be interesting to see which new suppliers, beside Co-op and Octopus, they have lined up. I suppose it depends on who is still standing in a few months from now.

Petriix

I've just signed up. There's a £25 referral scheme too.

Coastalwatch

I thought photo's of progress from Ripples first wind farm wouldn''t go amiss! Exciting times ahead for all who took out a share in it.

Graig Fatha Update: Work continues to finalise the turbine foundations

01/11/2021

The team have been working hard to finalise the site foundations ahead of the turbine arrival. Ducts were placed into the steel frame and layers of concrete were added to the foundations prior to the 18 tonne steel ‘can’ being placed in the foundations. This can is now secure within the foundations and will have the bottom of the turbine tower bolted onto it once it arrives on site.

Check out the images below to see the build in action.

Image 1 - Ducts in place prior to concrete pour

Image 2 - Concrete wagons and pouring in early morning action

Image 3 - End of part 2 concrete pour

Image 4 - Can being placed into foundation

Swan_Valley

Received email today from Ripple that the turbine is due to arrive on site next week.

Daily updates, with photos, will be posted on the Ripple Dashboard.