Ridge Clean Energy has set out plans for a community benefit programme linked to its proposed 39MW Three Oaks solar and battery project in the East Riding of Yorkshire, England.
A minimum of £20,000 annually is expected to be generated by the fund over the 40-year life of the scheme, the developer said.
RCE will also provide up-front seed capital and development assistance for community projects, so residents do not have to wait until the completion of the renewable energy park to start receiving benefits.
A planning application for the scheme is now under review by the local authority.
RCE co-founder and chief executive Marjorie Glasgow said: “We develop each project with the scope to do so much more than generate power. We believe that combining clean energy with the needs of communities is the most powerful way to tackle climate change and its impacts.
“The Three Oaks Renewable Energy Park could help East Riding adapt to the biggest challenges currently facing communities in the UK – climate change, energy security, and the rising cost of living.
“The Ridge team have a proven track record in developing high-quality UK renewable energy projects whilst working alongside local communities to create enduring and sustainable local benefits.”
Wildlife enhancements are also planned for the renewables scheme, including meadow, tree and hedgerow planting that RCE says will contribute to a 69% net gain to local biodiversity.
Public exhibitions were held earlier this year at which ideas for using the community benefit fund were discussed.
Caroline Wegrzyn, business manager for North Holderness Community Transport, said: “Projects like Three Oaks Renewable Energy Park lead the way to new ways of working and we are interested to learn how communities and businesses can benefit from this technology and project.
“We have welcomed and appreciated the opportunity for community engagement which Ridge Clean Energy have created and sustained.”