A brace of community share offers is in the pipeline for renewable energy projects in the UK, including wind and rooftop solar.
Energy4All – a business launched in 2002 to expand the number of renewable energy co-ops in the UK as an integral part of the transition from carbon – says a share offer is now open for North Lincolnshire Community Energy (NLCE).
A new community benefit society, NLCE is seeking to raise £680,000, which it will add to grant support from the Towns Fund to install solar panels, initially on schools in the Scunthorpe area, with more projects in north Lincs. to follow. Its first six installations are already operating.
The Towns Fund grant enables more solar panels to be installed and a lower price to be charged to schools for the electricity from the panels. Electricity generated from the panels will be sold to the schools initially at a price of 9.9p/kWh, offering them a saving on energy bills.
The expected annual interest on investments is 5% – with the usual warning applying to investment risks – and the share offer is expected to close on 15 September 2023; the society reserves the right to close this sooner if our target has been achieved. Minimum investment is £50 and the maximum is £30,000.
Also coming up for co-ops in the Energy4All family are share offers for Drumlin Wind Energy, expected to launch in Autumn 2023 to raise funds to replace an existing turbine with a modern longer blade turbine to generate more energy.
Wey Valley Solar is looking into installing more rooftop solar on schools belonging to the Weydon Multi-Academy Trust funded by current cash reserves and/or a share offer later on in 2023.
Edinburgh Community Solar is planning a third phase of its work, surveying 22 sites across the city ahead of a formal proposal to the council, with a share offer expected later this year.
And Reading Community Energy is developing its third pipeline of roof top solar installations, which currently offer over 800kWp capacity across six sites.
Energy4All’s work won recognition in the new year’s honours, when chair Mike Smyth was awarded the MBE.