Swansea-based community energy group Gower Power will launch a community share offer to fund the transfer of Brynwhilach solar farm into community ownership.
The 4.99MW Brynwhilach solar farm in Wales has been successfully operating since 2017, outperforming its generation targets. It produces enough electricity for the equivalent of 1,650 average homes and will save over 45,000 tonnes of carbon over its remaining lifetime.
Under community ownership, the solar farm is expected to generate over £2.7m in community benefit over the next 23 years.
Gower is part of a partnership with four other Community Benefit Societies (CBSs) in England and Wales called Community Energy Together (CET).
These four others launched their share offers earlier this summer on the Ethex positive investment platform, and have already raised a collective total of £680,000.
Lisa Ashford MBE, CEO, Ethex, said: “With the prime minister pushing back on the UK’s net-zero commitments, support for grassroots climate action is more vital than ever. The £680,000 raised so far is a clear vote for local solar power to support a cleaner, greener, fairer future.
“Ethex investors are supporting community energy projects that use the excess revenue from the sale of renewable energy to create funds that benefit local people, communities and projects – not to line the pockets of energy company shareholders.”