More than £1m raised for solar farm near Bingham

More than £1m raised for solar farm near Bingham

As world leaders gather in Paris today for UN climate talks – closer to home a pioneering Nottinghamshire clean energy project has raised a staggering £1.1716 million in just two weeks.

So far shareholders have invested £671, 600 in a solar farm outside Colston Bassett, near Bingham, and Nottingham Energy Partnership has agreed to invest a further half a million pounds.

Money has been coming in at the rate of almost £1 a second since shares went on sale on November 10 which is good news for community projects across the county which will receive an estimated £1.8m from profits from selling the electricity generated.

The project will produce enough electricity to power 1,150 homes by next summer, and will save more than 50,000 tons of carbon dioxide over 25 years.

Nottinghamshire Community Energy (NCE) has now reopened the share offer in a bid to raise up to £850,000 to help finance the £5.7 million development, the first community energy project in the county. A bond offer will be available in the New Year.

The deadline for tax relief eligibility has now passed but investors are still being urged to come forward and become members.  The share offer has an inflation-busting return of up to 7% for members.

Shares are £10 each and you can invest between £500 and £100,000.

Phil Angus, Chair of NCE, said: “We are really pleased that 80 people managed to join us before the first rushed tax eligibility deadline and become part of a venture which will not only provide clean energy but also generate significant funds for community projects.

“We know quite a few people who could not join us within the short timescales so we are offering a further opportunity so that others can become involved in this very important and exciting development.”

There is still time to invest. To download the share offer document, visit www.nce.coop.

For further information or to arrange interviews, contact Sarah Newall at Arch Communications, sarah@arch-comms.co.uk, 0744 9040798.

Submit a Comment

Your email address will not be published. Required fields are marked *