THE grandson of a man who set up a hydro-electric scheme almost 100 years ago will be the first to buy shares in a new project.

John Leyland formed the Bainbridge Electric Light Company in 1912 to harness the power of the River Bain to light homes in the village.

This week, his grandson, Peter Leyland, agreed to invest in an innovative new scheme which will again use the river to generate green energy.

Mr Leyland, 90, will be the first person to invest in a share option launched by community company River Bain Hydro.

The scheme aims to generate enough electricity to power 40 homes and save 80 tonnes of carbon dioxide a year.

Mr Leyland, whose home in Bainbridge overlooks the site of the new plant, still remembers cleaning out the outflow of the original header tank as a boy, when it would become blocked by autumn leaves.

The electric light company was run by his father, and following his death, his mother. In 1947, electricity was nationalised and six years later his mother received compensation of £1,415.

Mr Leyland, who plans to give the shares to his daughters and stepson, said: “I thought I would like to put that much money into this new project. It’s very nostalgic for me. I’m interested by how it will work and will watch it take shape from my house.”

Mr Leyland still has accounts from the original hydro scheme.

The documents show that it cost less than £500 to build the plant and to put electricity in all homes in the village.

The scheme is being launched by social enterprise, H2oPE, and the Raydale Project.

It is hoped to raise £250,000 with the shares issue.

Managing director Steve Welsh said: “It’s a lot of money to raise, but we’re confident that there are committed individuals who really support alternative energy.”

Yvonne Peacock, from the Raydale Project, said: “We need to preserve our natural resources and Bainbridge has always been a forward-thinking village.”

The plant will be the Yorkshire Dales National Park’s first community- owned scheme. Surplus money from the sale of hydro electricity will fund local environmental and community projects.

The share issue was due to be launched last night at Sycamore Hall, Bainbridge. For more details, visit h2ope.co.uk.