National energy efficiency solutions company Anesco has played a key role in a ground-breaking new community solar farm near Stratford-upon-Avon, which will provide a long term funding stream for local charity groups over the next 25 years.
The company has constructed a brand-new solar farm near Stratford-upon-Avon for Stratford Community Energy, which will generate 4,696 MW hours of electricity per year – enough energy to power around 1,400 homes. Covering 11.8 hectares of former DEFRA land, the site is already generating electricity into the National Grid.
Surplus profits from the sale of power will be fed into a community fund that directly benefits local people. Local projects and charities that will benefit include The Stratford Hospital Appeal, which is aiming to raise £1 million to pay for the world class facilities and enhancements for new Cancer and Ophthalmology services that have not previously been available locally. It will receive £125,000 from Stratford Community Energy over the next 25 years. Welford on Avon School, based five miles from the solar site, will also benefit, receiving a windfall of around £2,000 a year.
Members of the public are invited to purchase solar bonds offering a return of 5% per annum that is paid every six months for the initial three year term.
The solar farm is one of only two community energy projects in the country that will benefit from being connected to a battery storage unit. A 1000 kW / 1200 kWh Energy Storage System (ESS) will be installed on the site – Anesco’s 10th installation of such a system in the past few years – meaning the energy generated can be stored and released when it is most needed.
As a renewable power source the solar farm is expected to reduce the region’s carbon emissions by up to 1,800 tonnes per year.
Delvin Lane, commercial director at Anesco, said: “It’s been incredibly rewarding supporting a project that’s not only benefitting the environment but also the local community. The groups Stratford Community Energy has chosen to support are doing fantastic work and we know they will put the funding to very good use.
“It’s also rewarding to know that the site, which was an old DEFRA site, is now in the business of green energy, helping to drive down carbon emissions and create a better future for everyone. To date in schemes up and down the country, Anesco has helped to take over 275,000 people out of fuel poverty. The renewable technologies it has deployed are now generating over 500MW of power.”
In addition to being appointed by Stratford Community Energy to install the solar array, Anesco has been brought on board to operate and maintain it over the next 25 years.
Stratford Community Energy is funding the Stratford Solar Array through the sale of £3.8m of bonds, which can be purchased by the public, and its debt partner, Close Brothers.
The solar bond offer will remain open until the maximum sum has been reached, or until 31st May 2016. The minimum investment per applicant is £500 for one bond.