The installation of nearly 1MW of solar panels on at least six buildings in Edinburgh is planned by Edinburgh Community Solar Co-operative (ECSC) as they return for Phase 2 in their quest to make Edinburgh a cleaner and greener city.
To do this ECSC proposes to raise up to £660,000 by the issue of £1 shares. The minimum investment will be £100 and priority will be given to local residents who reside in the EH postcode districts.
In 2015 ECSC successfully launched their first share offer which resulted in over £1.4 million being raised that funded the installation of nearly 1.4MW of solar power on 24 buildings owned by City of Edinburgh Council.
Today ECSC continues to generate solar power from these buildings and members receive share interest on their investment as projected with all surplus profits allocated to the Community Benefit Fund which came into operation in 2018.
Speaking of the imminent launch of the share offer, Lesley Hinds, Chair of ECSC said “ECSC is an ethical, community-based, social enterprise. We came together with a plan to help reduce carbon emissions, address Fuel Poverty and make renewable energy more commonplace in our city.
“We especially welcome smaller amounts, as we would like as many people to join ECSC as possible, which is why the minimum investment is as low as we can make it.
“Parents and grandparents can also apply for shares in ECSC for their children and grandchildren or can apply for shares on their behalf and leave them in their will”. Shares in ECSC are understood to be exempt from inheritance tax under present rules.
The share offer will be launched in Summer 2020 and you can register your interest at www.edinburgh.coop/register.
ECSC also has the option to install on 4 other Sites should grid connections and roof surveys permit later in the year.
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