Press release - Your chance to co-own Ernesettle community solar array
You can still buy shares in community renewable energy in Plymouth but hurry, because this opportunity is limited!
Plymouth Energy Community (PEC), in partnership with Four Greens Community Trust (FGCT) and Plymouth City Council, have built a 4.1MW panel solar array in Ernesettle and now invite the public to own it.
Sandwiched between the MOD facility, sewage treatment works and the River Tamar, the previously derelict land is now host to 16,000 solar PV panels, generating enough clean energy to meet the annual needs of 1000 homes and much needed funds for local community projects.
Built using short-term finance, PEC now aim to maximise community benefit and keep ownership local, by re-financing through a longer-term loan from Plymouth City Council and £1,230,000 in community shares. With £50 or more, anyone over 16 years can buy community shares to ‘co-own’ the solar array and receive a target return of 6%.
The award-winning community benefit society has evolved from a Council initiative to an independent organisation providing advice on all-things energy related. Offering support to clear fuel debt, switch suppliers, get free or subsidised improvement measures and home visits for those who need it most, PEC has helped 11,200 households, saved £341,000 from bills and cleared £180,000 of debt.
Councillor Michael Leaves, Cabinet Member for Streetscene and the Environment, said: “PEC is one of Plymouth’s great local success stories and as a Council we are fully behind their aims to reduce energy bills and fuel poverty and provide opportunities for local ownership of clean energy schemes”
“This latest project brings unused land into economic use. This long-term community asset will generate an income for PEC to support those that need it most and support FGCT’s work providing jobs, learning and training opportunities in north-west Plymouth. I would strongly encourage people to find out more and not miss this opportunity to positively invest in Plymouth.”
Since 2014, PEC has had two successful community share raises, resulting in 32 solar roofs on schools and local businesses, including Plymouth Life Centre. Host organisations are already saving £90,000 a year on their bills.
Alistair Macpherson, Chief Executive of PEC, said: “Energy issues aren’t going away, we want to help more people and this provides us with the long-term support to do so. We urge you to ‘make your money do good’ and contact us today.”
Please visit www.plymouthenergycommunity.com/invest to find out more, download the Share Offer Document and to purchase shares.
You are also invited to attend an information evening at 5:30pm on Wednesday 20 July at Foot Anstey on Sutton Harbour, please register here..
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