• Applications totaling 6.5 million euros have been received, compared to the 3 million euros offere
  • More than a third of the total contribution—1.1 million euros—came from residents of Labraza, Barriobusto, and Oion, the towns closest to the wind far.
  • The initiative was primarily aimed at residents of Labraza, Barriobusto, Oion, and Rioja Alavesa, where 60% of the crowdlending has been concentrated. At the same time, it was open to the entire historical territory of Álava. The goal has always been to prioritize residents of the areas closest to the wind far.
  • Nearly 70% of the total consisted of contributions under 25,000 euro
  • In addition, residents of the Administrative Districts of Labraza and Barriobusto will receive a special energy rate once the renewable energy infrastructure is operational and for the entire operational life of the wind farm

 

The Labraza wind farm has received more than twice as many applications for funding from the citizens of Álava, as actual demand has exceeded 6.5 million euros compared to the 3 million euros offered.

The call for citizen co-financing of the Labraza wind farm has confirmed investments totaling 3 million euros from residents of Álava interested in actively participating in this sustainable wind energy project.

The data show the great interest generated by the citizen co-financing system both in Rioja Alavesa and throughout the Historical Territory of Álava. In total, 88 people made an actual monetary contribution, raising a total of three million euros, thereby meeting the target set for the crowdfunding campaign.

Regarding the origin of the applications, more than one-third of the total contribution—1.1 million euros—came from residents of Labraza, Barriobusto, and Oion. Including the Rioja Alavesa region, the number of applications exceeds 60%. Residents of these areas were guaranteed effective participation because they live in the priority investment zone, being the closest to the wind farm. Applications from the rest of Álava totaled 1.17 million euros.

Regarding the amounts of the contributions, 16% are up to 5,000 euros, 42% are up to 25,000 euros, and the remaining 42% exceed 25,000 euros.

This Labraza Crowlending campaign was launched on 18 May with a proposal for a three-year collective co-financing scheme and a guaranteed fixed interest rate of 7 per cent per annum, with a maximum funding target of 3 million euros. The investment range was set at between €1,000 and €100,000 per person. Although primarily aimed at residents of Labraza, Barriobusto, Oion and Rioja Alavesa, it has also been opened up to the whole of the historical territory of Álava. The aim has always been to prioritise residents of the areas closest to the wind farm.

First wind farm project in the Basque Country in 20 years

The Labraza wind farm, the first wind farm project in the Basque Country in 20 years, is currently under construction. It will involve a public-private investment of 59 million euros through Iberdrola and the Ente Vasco de la Energía, the Basque Government’s energy agency.

The installation of this 40 MW wind farm will increase the Basque Country’s current installed wind power capacity by 26 per cent, from 155 MW to 193 MW. Forecasts indicate an annual output of around 100,000 MWh, which will supply 30,000 households with renewable energy and prevent the emission of 16,300 tCO₂ into the atmosphere.

Benefits for the local community and environmental protection

The Labraza wind farm is expected to create up to 90 jobs, mainly local ones, during the construction phase, and will have a wider positive impact and bring benefits to the local authorities, their residents and businesses located near the renewable energy infrastructure.

The installation of the wind farm will provide the local authorities with an initial income of around 1.2 million euros when work begins, and recurring revenue of around 230,000 euros per year in the form of taxes and levies. In addition, local residents will be able to benefit from a reduced electricity tariff throughout the wind farm’s operational life.

Furthermore, the Labraza wind farm incorporates various innovative measures to protect birdlife and biodiversity, such as:

  • Installation of detection devices for sensitive bird species and the shutdown of wind turbines.
  • Landscape restoration and environmental integration of key project areas through hydroseeding and planting
  • Vegetation restoration with the recovery of Habitats of Community Interest
  • Replacement of scrub and/or enrichment with broad-leaved trees on land managed by Reforestation Consortium No. 259
  • Plant screening along certain sections of the Camino Ignaciano.