Green community projects seek £603k investment

Two community energy projects in the UK are seeking investment. Bath & West Community Energy (BWCE) is raising funds worth £603,000 for a hydropower and solar project. They are expected to generate around […]

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By Jacqueline Echevarria

Two community energy projects in the UK are seeking investment.

Bath & West Community Energy (BWCE) is raising funds worth £603,000 for a hydropower and solar project.

They are expected to generate around 330MWh of electricity per year in total – equivalent to powering 80 households annually.

People can invest between £500 and £100,000 and become shareholders, with a target interest rate of 7%, stated the company.

It claims it is the last chance for them to qualify for 30% tax relief under the Enterprise Investment Scheme (EIS) before the government scraps subsidies on 30th November.

The offer is available until 24th November.

Peter Capener, BWCE’s Chair, said: “With these two new schemes, we will be able to continue our support of the Bath area and its communities as well reduce the impact of climate change and strengthen local energy supplies.”