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 has launched a share offer on 28 September 2020 to raise £660,000 by the issue of £1 shares. The minimum investment is £100 and priority will be given to local residents who reside in the EH postcode districts.
The six sites are:
Kirkliston Leisure Centre
Gracemount Leisure Centre
Craiglockhart Leisure Centre
Waverley Court
Edinburgh Road Services
Sighthill Recycling Centre
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 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.
To find out more or to submit an application please visit https://www.edinburghsolar.coop/offer
Share offer closing date is 30 October 2020.
ECSC is supported and assisted byEnergy4All, the leading social enterprise in the UK for delivering community owned renewable energy schemes. Energy4All projects have raised over £80 million to build and operate community renewable energy generation all over the UK.
For more information please visit www.energy4all.co.uk
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