The Leys solar site near Stratford-upon-Avon in Warwickshire is part of a community energy project established by Stratford Community Energy. The solar farm covers an area of 11.8 hectares and has greatly exceeded its target. Stratford Community Energy gives a portion of the profits from the sale of power to local worthy causes and the first payment has now been made to one of the beneficiaries of the project, Welford on Avon Primary School, which has received a windfall of £2000.
“The entire board is extremely pleased with how much the project has achieved in its first month of operation” said Adrian Pike, chairman of Stratford Community Energy. “The fact that the solar farm’s performance is well above target is great news for those who have invested in the project, as well as for the charities that will benefit from the sale of energy.”
Julie Leeman, headteacher at Welford on Avon Primary School, which will receive £50,000 from Stratford Community Energy over the next two and a half decades, added that the school is delighted to receive the first donation from Stratford Community Energy, which will be used to invest in new equipment for the school.
The Stratford Community Energy project is funded by a mixture of private and public investment. Members of the public can buy into the project through the purchase of bonds, which offer 5 percent gross returns, with the interest paid every six months for an initial three-year term.
The funds raised for the project ends today (May 31) and Adrian Pike says he has been impressed with the level of interest from investors, showing that there is a real demand for this type of investment, which provides strong returns as well as benefits for the environment and local people.
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