William Eichler 24 February 2016

Council sets up first ever ‘Solar Bond’

Swindon has launched the UK’s first ever ‘Council Solar Bond’ in order to pay for a community solar farm.

Swindon Borough Council, in partnership with peer-to-peer investment platform Abundance, has created the bond in order to bring together local residents and small investors from across the country to invest in the Swindon community solar farm.

The farm, which will be managed by council-owned Swindon Common Farm Solar CIC, will cost £4.8m to build, with £3m coming from the council’s investment, and the remaining £1.8m from small investors locally and across the country.

The minimum stake will be £5 and all investors will benefit from an effective rate of return of 6%, paid in cash twice yearly in instalments of capital and return. It is also inherently less risky to invest alongside the council.

The solar farm will help Swindon in its aim to install 200MW of renewable capacity by 2020, enough to meet the equivalent energy requirements of every home in the Borough.

Cllr Dale Heenan, Swindon Borough Council cabinet member for transport and sustainability, said: ‘For years, companies have been trying to find ways to make investing more accessible and understandable.

‘Swindon's Solar Bonds provide an opportunity for people invest as little as £5 or more than £5,000, and enjoy better returns than their bank provides as they invest for their children’s future, their own retirement or just a rainy day.’

He added: ‘Our approach is democratic finance in action, and the combination of personal benefit, environment issues and community involvement provides a topical way to catch imaginations, and help improve personal finance skills in a simple, easily understood way.’

SIGN UP
For your free daily news bulletin
Highways jobs

Part Time Finance Administrator

Essex County Council
Up to £25081.00 per annum + Pro Rata
Part Time Finance AdministratorPermanent, Part Time£25,081 per annum, full time equivalentLocation
Recuriter: Essex County Council

Senior Customer Services Adviser (Housing Repairs

Mansfield District Council
£28,598 - £33,699 per annum
Mansfield is a town of towns at the centre of things in Nottinghamshire - a place of many strong connections Mansfield, Nottinghamshire
Recuriter: Mansfield District Council

No Wrong Door Deputy Manager

North Yorkshire Council
From £47,181 up to £51,356 per annum pro rata
We’re looking for a passionate, driven, and dynamic professional to join our management team within our innovative No Wrong Door (NWD) service. Scarborough, North Yorkshire
Recuriter: North Yorkshire Council

Senior Resource Centre Worker

North Yorkshire Council
£34,434 - £38,220 per annum pro rata
You will work closely with families and other professionals to ensure that you have sound knowledge of the children you are caring for Morton on Swale, Northallerton
Recuriter: North Yorkshire Council

Social Worker

North Yorkshire Council
£38,220 - £42,839 per annum, pro rata
Our Family Assessment and Support Teams you will work with a range of children and their families, carers and networks. Selby, North Yorkshire
Recuriter: North Yorkshire Council
Linkedin Banner