Nottingham Community Energy has launched its second opportunity for local people to invest in renewable energy in Rushcliffe.
NCE owns a solar farm at Langar Lane near Colson Bassett
The organisation says:
‘Good for your pocket: Beat high-street interest rates by investing in the Langar Lane site in Colston Bassett and receive a target 7% return, achieved for the last two years running.
Good for the environment: The 40,000 solar panels are saving an estimated 2,250 tonnes of CO2 annually whilst feeding electricity into the grid for the next 25 years. Electricity from our one field is enough to feed the total electrical demand from 1,500 homes each and every year with no pollution going into the atmosphere
Good for the community: 100% of surplus profits will be recycled into local communities in Nottinghamshire through a Community Fund. It is estimated that the Langar Lane Solar Farm will provide at least £20k per annum during the early years. This amount will increase in the later stages of the project.
Nottinghamshire Community Energy Ltd (NCE) owns the 5 Mega Watt project, and is seeking to raise a total of £500,000 through its 2018 share offer. The current level of investment stands at £200k.
The solar farm is predicted to generate up to £1 million for the local community over the next 25 years and funds will be reinvested in community projects across the County.
Criteria for eligible projects are likely to include wildlife conservation, energy efficiency and renewable energy.
NCE is a Community Benefit Society set up to deliver community-owned renewable energy, low carbon energy and energy efficiency projects. They are registered with the Financial Conduct Authority.
The Local Authority run Nottinghamshire Pension Fund has already provided £1.5 million of long term funding to the project. Investors from across the region are being invited to become shareholders in the project which offers up to a 7% projected annual returns on investments. Shares can be bought for children and grandchildren.
Shares are £10 each and you can invest between £500 and £100,000. Investors will also become a member of Nottinghamshire Community Energy and a part owner of the solar farm.
Phil Angus, Chair of Nottinghamshire Community Energy, said, “This project provides a fantastic opportunity for local people in Nottinghamshire to invest in and own a part of our renewable energy future.
“As a community-owned asset, this will provide a valuable income that can be reinvested in the local community. The project will provide local renewable energy generation that reduces the impact of climate change and improves our energy security.”
The share offer is open until March 31st.’
For more information and to download the share offer document visit www.nce.coop or phone 0115 985 9057.