Low Carbon Gordano’s first community energy project
3 years after Low Carbon Gordano (LCG) was set up to develop community-owned renewable energy, the first project has got the go-ahead. LCG has teamed up with Bath & West Community Energy to develop a 1.8MW solar array. It will consist of 8000 solar PV panels and will cover around 15 acres of land at Moorhouse Farm, on the edge of the Avonmouth industrial complex sandwiched between the M5 and M49 motorways.
A target of just over £2 million is needed to fully develop the scheme. The first Community Share Issue at the Folk Hall in Portishead will be launched on Wednesday 18 June and will be open until 15 August.
The Feed-in Tariff and the sale of electricity will provide an income, and returns of around 7% are expected, plus tax relief for qualifying investors. LCG is a Community Benefit Society so surplus profits will be channeled in to a Community Fund for local organisations running other low carbon projects.
Managing Director of BWCE, Jeff Kenna says, “This is a great opportunity for local people to invest in a solar energy project and make a real contribution to tackling climate change”
“We are really excited to be involved in this scheme which, when built, will generate enough clean energy to power 500 homes. Involvement in local renewable energy projects will make a significant contribution towards accomplishing our vision of a sustainable future. We hope many of you as supporters of Low Carbon Gordano will be able to join in this new initiative and help us develop a new model of community energy ownership which will help tackle climate change, improve energy security, and keep money in the local economy.”
For more information about Low Carbon Gordano: website: http://www.lowcarbongordano.co.uk/