UK community solar farm offer opens for business

Posted at June 26, 2012 » By : » Categories : News » Comments Off on UK community solar farm offer opens for business

From today, individuals will have the opportunity to buy a share in the Westmill Solar Cooperative, which could become the UK’s largest community-owned solar farm.

The solar farm in the southwest of England has been in operation since last August and has the potential to produce 4.8 GWh per year.

Now individuals can take a £250-20,000 share in the development in a bid to raise up to £4 million equity. Investors making a long-term commitment to the project will benefit from the scheme’s feed-in tariff, which will be at the highest payment level.

“This, in my opinion, is a unique opportunity offering along-term, index-linked return to investors,” says chair of the Westmill Solar Cooperative board, Philip Wolfe.

One of the other directors of the Westmill Solar Cooperative is local farmer Adam Twine, who has also developed a wind farm on the same site, the Westmill Wind Farm Co-operative, which raised £4.3 million from its 2,300 members.

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Related stories:
Community-owned solar farm plans share offer (30-May)
UK’s largest community-owned wind farm seeks go ahead (10-May)
UK Crown Estate grants lease for Welsh tidal project (2-May)

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