William Eichler 19 November 2020

Council raises £1m for solar panels through ‘community investment’

Council raises £1m for solar panels through ‘community investment’ image

Warrington Borough Council’s first Community Municipal Investment (CMI) has reached its £1m target thanks to investments from over 500 people across the UK.

The CMI structure was developed by ethical investment platform Abundance Investment to offer an accessible, low-risk way for people to back councils in the fight against climate change.

According to Warrington BC, 523 people invested an average of £1,912 each in the CMI, which will help fund a multi-million pound solar and battery storage project near Cirencester.

The electricity and revenues generated by the solar panels will be used to accelerate other green projects as part of the council’s Green Energy Strategy. These include reducing fuel poverty and energy self-sufficiency.

‘I’m absolutely delighted that our first ever Community Municipal Investment has been such a success, generating a huge amount of interest and attracting hundreds of investors from Warrington and across the country,’ said Cllr Bowden, leader of Warrington BC.

‘Reaching our £1m investment target is a fantastic achievement, particularly in such challenging times. It shows that tackling the climate emergency is something that people really care about.’

Bruce Davis, co-founder and managing director, Abundance Investment, commented: ‘Warrington was particularly hard hit by COVID during this investment offer, so the success of its green bond is a testament to the town’s green vision which has inspired investors across the UK.

‘This is clear proof that ordinary people want the recovery from the pandemic to be led by the green economy, and they are prepared to put their money where their mouth is.’

Warrington’s announcement follows news that West Berkshire District Council raised £1m through the UK’s first ever CMI which closed last month.

SIGN UP
For your free daily news bulletin
Highways jobs

Digital Forensic Analyst

North Yorkshire County Council
£20,493 to £22,627
We are looking for someone who has a minimum of NVQ Level 2 Literacy and Numeracy, is a strong communicator with... Northallerton, North Yorkshire
Recuriter: North Yorkshire County Council

Primary Mental Health Worker

Barnet London Borough Council
£47,841 - £52,886 Per Annum
An exciting career opportunity has arisen for a full time enthusiastic and energetic clinical psychologist or equivalent to join... London (Greater)
Recuriter: Barnet London Borough Council

Children and Young People Psychological Wellbeing Practitioners

Barnet London Borough Council
£31,557 - £34,884 Pro Rata
The successful candidates will be able to establish good communication and rapport with children and young people and demonstrate... Barnet (City/Town), London (Greater)
Recuriter: Barnet London Borough Council

Advanced Skills Worker

Essex County Council
£26801 - £30906 per annum
Advanced Skills WorkerPermanent, Part Time£26,801 - £30,906 Per AnnumLocation
Recuriter: Essex County Council

Social Worker - Safeguarding

Essex County Council
£30906 - £42254 per annum
Social Worker - SafeguardingPermanent, Full Time£30,906 - £42,254 Per AnnumLocation
Recuriter: Essex County Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue