> Socio-economic aspects: “A people-oriented energy management style”

A major innovation of the present project is that, contrary to what has been done until now regarding electricity management (the utility owns and exploits the power station as well as the wind farm and sells/distributes the electricity), it has been decided that a consortium would be introduced to own and administer the Wind-Hydro Power Station. The company was baptized Gorona del Viento El Hierro, S.A. and the shareholders and their respective contributions were defined in an agreement in December 2004. This consortium includes the Island Government of El Hierro (representing political commitment, which is essential for inhabitant integration in the project), the Canary Islands through ITC and the power utility (UNELCO-ENDESA).

Acceptance of the project by the population is essential. Therefore, as well as the implementation of several workshops, and awareness campaigns, the inhabitants will also have the opportunity to be directly involved in the project as co-owners of the Wind-Hydro Power Station. A number of the Island Government-owned shares will be divided into smaller ones giving El Hierro SMEs and every islander the possibility of part-ownership, which is expected to create interest and to effectively involve the population in the project.