A village in Shropshire has raised £565,000 and secured a further £3 million from Bristol-based Triodos Bank UK to bring a solar farm into 100% community ownership.

The 3.2MW solar farm, located on the outskirts of Sheriffhales village, consists of nearly 12,000 panels and has the capacity to generate enough renewable electricity to power 825 homes a year.

It is owned by non-profit Sheriffhales Community Energy, which was set up to generate income for the parish.

Originally commissioned in 2016 by a commercial renewable company, the solar farm was brought into part-community ownership, initially through Mongoose Energy and in 2018 through short term investment from a social investment fund.

The latest financial arrangement will enable the repayment of the short term loan, bringing the solar farm into long term community ownership.

The community solar array, over the last six years, has exceeded average generation projections by 5% and is currently generating more than £400,000 per year in revenues.

With the new financial arrangement, the company expects to generate around £1 million in surplus for community projects over the solar farm’s expected operating life through 2040.

Peter Bonsall, Chair and Trustee of Sheriffhales Community Energy said: “Sheriffhales is now one of the few villages in the UK to own its own solar farm. We are a rural parish with an agrarian economy – we don’t have a village pub, shop or bus.

“Bringing the solar farm into community ownership will bring an income to the parish that is more than the parish council precept. We will be using those funds to help address some of the challenges we face as a rural community, to tackle fuel poverty and other urgent village needs.”

Article source: https://www.energylivenews.com/2022/11/04/shropshire-village-raises-3-5m-to-acquire-local-solar-farm/