North East Derbyshire launches £5m solar community share project

North East Derbyshire is looking for investors for a solar community energy project worth £5 million. Chesterfield Community Energy is responsible for the project which will generate more than 4,000MWh of […]

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By Jacqueline Echevarria

North East Derbyshire is looking for investors for a solar community energy project worth £5 million.

Chesterfield Community Energy is responsible for the project which will generate more than 4,000MWh of electricity per year – equivalent to powering 1,200 homes.

The solar farm will also save up to 1,800 tonnes of carbon emissions per year.

The project, which is currently producing electricity into the National Grid, will be connected to a storage system with a capacity of up to 1200kWh.

Investors can buy solar bonds which will provide a return of 5% annually. The minimum investment is £500 and the offer will be open until the maximum sum is reached.

Chesterfield Community Energy also stated the creation of a community fund will provide around £15,000 to local charities every year, for the 40 year lifetime of the project.

Adrian Pike, Chairman of Chesterfield Community Energy said: “The team we have pulled together to deliver the project has an unrivalled track record in the design and build of similar large-scale solar projects, having been responsible for building over 70 solar farms in the UK over the last five years.

“Our objective is simple – to help share the benefits of renewable energy by giving communities and individuals an opportunity to invest in solar bonds. By backing Chesterfield Community Energy investors will not only be supporting a reduction in the impact of climate change and increasing energy security but also be helping to generate significant benefits for the community and local economy.”