The group behind a solar energy scheme in Bristol has revealed it has smashed through the £90,000 target set at the start of its community share issue in April.
The not-for-profit Bristol Energy Co-operative aims to realise its plans of installing solar panels on community buildings in the city.
It hoped to attract hundreds of members investing as little as £50, and initially concentrated on two sites, Hamilton House and Knowle West Media Centre.
But since the launch two months ago, expectations have been exceeded, with £115,000 already raised. The “stunning success” has encouraged the group to extend the share offer to the end of June.
“We’re delighted that we can now go ahead with the first two community buildings in our share offer – Hamilton House in Stokes Croft, and Knowle West Media Centre,” said Mark Corbin of the Co-op.
“And the good news is there’s still time for people to invest. We have further solar projects in the pipeline, and would like to use the additional money we’ve raised, plus a little more, to make those projects a reality, too. So we’re extending our share offer to the end of June.
“Our share offer gives everyone the chance to be a part of the renewable revolution, whether they own a roof or not. You can invest anything from £50 to £20,000. This is an ethical investment, with clear financial, environmental and social returns. The Co-op receives a guaranteed 25-year income from the government for the electricity generated, investors receive a projected 4% annual return on their investment, and community buildings benefit from green energy at reduced prices.”
For more information about investing in the Bristol Energy Co-operative and to download a copy of the prospectus visit www.bristolenergy.coop.