First UK council-run solar bonds offered

Residents in Swindon could have the opportunity to co-invest in a solar project with their local council. The 5MW Swindon Community Solar Farm project is subject to final approval from […]

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By Jacqueline Echevarria

Residents in Swindon could have the opportunity to co-invest in a solar project with their local council.

The 5MW Swindon Community Solar Farm project is subject to final approval from the cabinet which will consider the proposal on the 10th of February.

If given the green light, people can invest directly in Council Solar Bonds with the minimum stake set at £5.

Around 65% of the profits will be used to fund local community initiatives.

The construction of the farm would cost £4.8 million and the council will invest around £3 million. The remaining £1.8 million would be sought from community investors.

Councillor Dale Heenan, Swindon Borough Council Cabinet Member for Transport and Sustainability said: “For years, companies have been trying to find ways to make investing more accessible and understandable. Swindon Borough Council’s approach to solar farms means that local residents can invest as little as £5 or more than £5,000.”

The project is part of the council’s goal to generate 200MW of renewable energy by 2020.