A renewable energy company is offering people and businesses near Bishops Itchington the opportunity to earn six per cent interest annually by investing in a new solar farm.
Big60million says the solar farm at Elms farm off Plough Lane, which connected to the National Grid and began generating electricity in March, has been designed to deliver “important financial, environmental and social benefits to local people, ensuring that it makes a positive impact on the community”.
The company as launched a £6 million mini-bond scheme which prioritises people living near the solar farm by reserving ten per cent of the £60 bonds for more than 58,000 households and businesses within ten miles.
This is expected to generate £180,000 in interest for the community over five years if the full allocation is taken up.
Investors could then keep the money or reinvest it for more of the 25-year duration of the scheme.
Big60million has also pledged to plant 95 per cent of the 29 hectare solar farm – the size of 37 football pitches - with wildflower meadows to encourage biodiversity and habitat for wildlife and bees, to create a nature sanctuary.
Judith Christian-Carter, vice chairman of Bishops Itchington Parish Council, said: “The solar farm will benefit the community in a number of ways.
“Young people will be encouraged to visit the site to learn about renewable energy.
Local people will be able to buy into the scheme via mini-bonds and therefore feel they own the electricity being generated.
“And we will have a wildlife haven, rich in biodiversity, which will be fantastic for the environment.”
The solar farm will benefit the community in a number of waysJudith Christian-Carter
The Southam mini-bond is part of a record £20 million portfolio of three mini-bonds including offerings for solar farms at Atherstone, north Warwickshire, and Paddock Wood, near Tunbridge Wells, in Kent.
All three farms are fully operational.