A £40 million investment partnership has been launched to help communities take ownership of clean energy sources across the UK.
The collaboration between independent trust Power to Change and investment group Big Society Capital aims to move up to eight existing solar farms into the hands of local communities over the next year.
The scheme has begun with the purchase of the 5MW Newton Downs solar farm near Plymouth from renewable supplier Good Energy.
The partners will eventually hand the project over to Yealm Community Energy through its Community-Owned Renewable Energy Partners (CORE) investment vehicle – they expect the site to generate more than £1.4 million in revenue over its lifetime.
Good Energy Chief Executive, Juilet Davenport, said: “We’re thrilled to be able to pass the Newton Downs site back to community hands, as part of our purpose to do things differently in the energy sector and supporting our vision of a cleaner, greener future.”
Good Energy recently sold two 5MW solar projects in Devon and Wales to community-owned organisations.