Chesterfield Community Energy’s (CCE’s) bond offer has so far raised £2.85m from people looking to invest in an 11.6-hectare solar farm in Derbyshire.
CCE is offering a 5% gross return for investors, with the interest paid every six months for an initial three-year term.
The bond offer will remain open until the maximum sum has been reached, or until 31 May 2016.
The minimum investment per applicant is £500 for one bond.
Chesterfield Community Energy chairman Adrian Pike (pictured) said: “We’re thrilled with the reception the offer has received and the response shows that investors have a real appetite for this type of investment.
“With many more pledges in the pipeline, we believe this is a fantastic opportunity for people to be involved in a community project that has the potential to make a real difference on so many levels.”
Anesco Community Energy is coordinating the solar project on a former coal stocking site at Oxcroft. Other partners include the Freedom Community Project, the Friends of Oxcroft Group, the RSPB, Close Brothers and Limejump.
A 1000kW/1200kWh energy storage system is also planned at the site.
CCE is creating a community fund which will disperse £15,000 to local charities every year during the 40-year lifetime of the scheme.
Image: Chesterfield Community Energy
