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In 2025, Octopus began work on an old Cornish wind turbine site. The plan? To upgrade the existing turbine to a more powerful and efficient model. Construction is now underway, and members of the Collective have the opportunity to back the project as it moves closer to completion.
Want the full details?
Log in to download and read Fan #3's bond offer document.
- Investment type
- Bond
- Opening date
- 09 June 2026
- Interest rate
- 6.75% per year
- Investment term
- 5 years
- Investment range
- From £25 to £20,000
- IFISA eligible
- Yes
Calculate your potential returns
Earn interest tax free
Early access for locals
We want local communities to have more ways to get involved with renewable energy projects in their area, so residents in PL30 and surrounding postcodes will get early access to invest in this project. If that’s you, make sure you’ve completed sign-up and opted in to our marketing emails so we can let you know when early access opens.
Get to know the project
We’re working to recycle the old turbine parts in creative ways, like turning the blades into sculptures and furniture!
Once completed, the project’s 400kW capacity will be able to power over 500 homes a year!
We’re aiming for a 37% biodiversity boost on-site by planting native species like hawthorn, honeysuckle, and hazel.
Located near Bodmin Moor, the site sits in an area famous for its legendary big cat, which is said to have prowled the moorlands since the 80s.
Project FAQs
When will the project start generating electricity?
We expect the new turbine to be up and running sometime between late July and October 2026.
How does this investment work?
If you choose to invest in Fan #3, the money you put in will be held by the project for five years. During that time, you can expect to receive interest payments every three months, at a rate of 6.75% per year.
You can choose to send the interest you earn to your Collective Wallet, your bank account, or to your Octopus Energy account to lower your energy bills.
At the end of the five-year investment term, your original investment amount will be paid back to you.
As with any investment, investing in Fan #3 involves risk. If the project doesn’t perform as expected, it may not be able to make interest payments or return your original investment amount.
How much can I invest in this project?
You can invest anywhere between £25 and £20,000 in this project.
How much could I earn?
This investment pays a fixed interest rate of 6.75% each year. For example, if you invest £1,000, you could earn £67.50 each year, totalling £337.50 by the end of the 5-year investment term.
Can I hold this investment in an ISA?
Yes, this investment can be held in an Innovative Finance ISA (IFISA). If you do, you don’t need to pay tax on what you earn.
You’re responsible for making sure the amount you invest keeps you within your £20,000 annual ISA allowance.
Read more about IFISAs in our platform FAQs.
When will the investment start and end?
Once Fan #3 reaches its investment target, the project will close to new investments. The investment term will then begin around 20 days later.
The investment runs for five years and will end five years after the start date. If the end date falls on a weekend or bank holiday, your final payment will be made on the next working day.
When will I receive my first interest payment?
Interest payments are scheduled every three months. You can expect to receive your first payment three months after the investment officially starts.
How much tax will I need to pay?
If you hold this investment in an Innovative Finance ISA (IFISA), you won’t need to pay tax on any interest you earn or report it to HMRC. You can read more about IFISAs in our platform FAQs.
If you don’t use an IFISA, we’re required to deduct basic rate income tax (currently 20%) from your interest payments and pay it to HMRC on your behalf. This means you’ll receive your interest payments after tax has been deducted.
Depending on your circumstances, you may be able to reclaim some or all of the tax that’s been paid. For example, if you haven’t used your
Personal Savings Allowance in that tax year.
Can I sell my investment?
No, you won’t be able to sell your investment or get your money back early during the 5-year investment term.
* Carbon calculations — to work out the estimated carbon avoided represented by your investment amount, we used an estimated 1,393 MWh annual energy output from the project, alongside a 153gCO2/kWh past 5 year average for the carbon intensity of the National Grid, adjusted by an estimated carbon footprint of onshore wind of 8g CO2eq/kWh to consider emissions from Fan #3. To work out how many homes could be powered by the project, we used an estimated 2700kWh of annual electricity consumption per UK home from OFGEM. Please note these figures are estimates and should not be taken as fact or relied upon.