By Isle of Wight Observer
The team behind the Island’s only community-owned solar farm has said that its ‘ambitious’ fund-raising campaign is nearing a successful completion.
A spokesman for Wight Community Energy thanked everyone who had already invested and added that there are still opportunities to join in this unique opportunity.
Since July 31, the company has raised £220,000, far surpassing their original target of £160,000, and heading towards their new goal of £365,000.
The spokesman said: “We invite everyone who believes in the power of renewable energy, sustainability, and community ownership to join us in this venture.
“Homestead Solar Farm, just outside Shalfleet, is a secure and reliable asset that generates enough electricity to power the annual needs of 1,525 typical homes. By investing in the IW Community Solar Farm, you are not just supporting an existing solar project, you will help unlock a community benefit fund of £2.5million that will be spent on the Island, accelerating the transition to net-zero by supporting local projects with a sharp focus on tackling fuel poverty.
“This will be achieved in a variety of ways, for example, by helping locals access complicated home improvement grants and supporting businesses in upskilling their teams for the high-tech low-carbon future, creating new jobs for a stronger and more sustainable local economy.”
The company aims to pay all investors 6 per cent interest annually on their investments.
You can find out more or get involved at iowcommunityenergy.org or email info@iowcommunityenergy.org.