We want to harness the power of the river to generate a more sustainable future for our community. The performance of Osney Lock Hydro will therefore be measured in terms of its social and environmental impact– both directly through the green energy it generates and indirectly through the community benefits achieved with our income.
Generating green energy
Osney Lock Hydro is predicted to generate more than 159,000 kWh of clean electricity annually. That’s equivalent to the electricity used by 50 homes – saving 83 tonnes of CO2 each year. – saving 83 tonnes of CO2 each year.
Although some CO2 emissions will result from the construction of the scheme, once operational this type of hydro has one of the lowest carbon footprints of all electricity-generation technologies, emitting very little or no CO2.[source: www.gasandoil.com].
An additional 6,665 kWh of green electricity will be generated annually by solar panels placed on the roof of the power house.
The majority of the electricity generated by the hydro is planned to be sold to the Environment Agency, with the remainder exported into the national grid. Additional income will also be generated for the first 20 years of the scheme from the Feed-in Tariff. Income will cover the project running costs and loan repayments. It will also enable us to make interest payments to investors, without whose support the project would not be possible.
Generating £2m for community initiatives
Crucially, we aim to generate over £2 million of community benefit from the scheme during its forty year lifetime. By funding projects that help reduce energy use, support biodiversity and contribute to a more sustainable future, the impact of the hydro scheme will reach far beyond that of providing green electricity.
We will provide shareholders with regular performance updates.
Please note, all electricity and income-generation figures are predicted annual averages and assume the project has a 40-year lifespan.