Five community energy groups in England and Wales have joined forces to purchase seven solar farms in an effort to bolster the UK’s energy security and increase the country’s reservoir of renewable and sustainable electricity. The project, known as Community Energy Together (CET), will include ownership of seven solar power plants, located in Kent, the Isle of Wight, Devon, Shropshire and south Wales, and will add an additional 20% to the community solar sector. The £20m funding activity associated with the initiative will also be reinvested back into communities.
The community benefit society (CBS) will own each solar farm and aims to generate renewable power to directly benefit local communities around the country. CET will offer individuals the chance to secure shares in one or several of the solar projects hosted on the community-owned renewable energy fund, Ethex. This leaves the projects with direct control by local people, an opportunity that has become more important as solar energy generation increases and local community involvement escalates. Each solar farm has a combined generation capacity of 36MWp with the potential to power 13,000 households, while also reducing carbon emissions by 317,000 tonnes.
The projects are already operational under various commercial owners however, through the efforts of CET’s partners called Core Partners and Ethex, the costs to buy the farms will be affordable with interest rates considered to be reasonable. Indeed, the Core savings scheme has made it much cheaper per project than buying each solar facility individually. Ethex will finance the CBS’ acquisition of the farms through a digital platform that allows for “purpose-led” groups who are getting “investment-ready” to connect with donors who want to make align their financial gifts with their personal moral compass.
Gower Power in South Wales, one such community energy group, warmly received the funding opportunity offered by CET. Gower Power Co-founder Ant Flanagan said the company had been keen on developing a local solar farm and the collaboration opportunity made it cost-effective by making creating a series of local farms affordable. The £20m reinvestment in community funding is innovative and can be directed to several different programmes. This includes the development of energy efficiency systems along with rainwater harvesting systems for government buildings and nutrients sourcing initiatives for needy households.
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