INVESTORS looking for a return on their money are being invited to harness the power of the sun.
The Reading Community Energy Society (RCES) is offering shares in 10 new projects across the Thames Valley corridor.
It is seeking to raise £363,000 for the installation of new solar panels. RCES said that a previous share offer was fully subscribed in just a fortnight. Since opening, the Share Offer has raised more £100,000 – applications will be accepted until the end of March.
Among the first areas to benefit are Woodford Park Leisure Centre, in collaboration with Woodley Town Council, and a recycling facility owned by Select Environmental Services.
RCES is a volunteer-led organisation and offers shareholders a return on investments, while at the same time reducing climate change-causing emissions.
It is based on 20-year fixed tariffs, which RCES says offers good value as energy prices are expected to continue to rise. Shareholders receive annual returns, which are expected to be in the region of 4.5%-5% and other profits then reinvested into community funds.
Tony Hoskins, Chair of RCES, said: “Encouraged by the success of our first group of solar projects, the Directors have worked extremely hard to bring together this new opportunity.
“As a community benefit society, we aim to build low carbon renewable energy generation to help tackle climate change, to raise funds for community projects and to give local people a chance to get involved and make a real contribution to work of the organisation.
“By launching this second share offer and building more roof-top solar energy systems, we are opening the opportunity to even more people in an around Reading to get involved and join our existing membership.”
For more details, log on to readingenergy.coop/share-offer-2019/
