Community Energy Birmingham (CEB) is launching a share offer to expand its portfolio of renewable energy generation on community buildings in the city.
The co-op is holding two events where potential investors can find out more, meet the team and ask questions. The first is on 31 October at 7m at the Moseley Exchange. The second is on 1 November at 6pm at Birmingham Friends of the Earth.
CEB already operates six solar PV systems in Birmingham, generating 57,000 kWh of clean energy a year and saving 30 tonnes of carbon. The systems are funded entirely by CEB and installed on community buildings where the occupants receive the benefit of the clean energy and reduced rate electricity.
CEB’s private investors are drawn entirely from the community of Birmingham. In return for their shares, investors receive 4% interest, with the knowledge their money is being used for ethical, local purposes.
The co-op has identified the potential for new community projects to benefit from the final stages of the government’s solar photovoltaic (PV) Feed in Tariff deployment (payments made to people who produce renewable electricity on a small-scale), before the scheme ends on 31 March 2019.
It wants to develop one more new project for installation in winter 2018/19. This will be its largest solar roof to date with a peak capacity of 50 kW, and the total investment opportunity is around £44,000.
The share offer runs from 31 October to 14 December. Investors must reside or work in Birmingham. The minimum investment is £250 and an instalment plan is available.