Local businesses and individuals can help green up their area by putting their money into a community scheme that also brings them a financial return on their investment.
Grimsby Community Energy has recently launched its latest share offer to raise capital for more solar panels across rooftops around North East Lincolnshire.
North East Lincolnshire Council is currently supporting Grimsby Community Energy with the installation of decarbonisation schemes across the borough, with a grant from the Shared Prosperity fund of £109k over two years.
The group now aims to raise an additional £315k to install greener energy at several sites later this year, including additional buildings at CATCH, the not-for-profit national technical skills centre in Grimsby.
CATCH is a champion for clean industrial growth, with an industry-leading apprenticeship programme and a diverse membership, making them a perfect partner to champion community-owned solar PV.
The award-winning Grimsby Community Energy is a community benefit society (CBS), a form of not-for-profit cooperative owned and run by local people that works for the benefit of the community. It was launched in 2016 by a committed group of people determined to deliver locally-owned community energy.
Over the last eight years, they have raised £450k of investment to deliver renewable energy across Grimsby, Cleethorpes and North East Lincolnshire.
This has led to the installation of 534kW of solar PV (photovoltaic) panels for community organisations such as CATCH, YMCA Humber Freeman Street & Orwell Street, E-factor Enterprise Village & The Business Hive, the Rock Foundation and at St Andrew’s Hospice Charity Shops, generating 157MWh of clean electricity and saving 184t of CO2 to date.
This place-based approach to energy generation means local community organisations pay less for their energy and everyone who invests in Grimsby Community Energy has a vote in the running of the society.
The organisation is keen to gain more individuals as members and also expand its Business Angels. These are local businesses who invest in GCE and share the same values in environmental sustainability. They generate a return on their investment (up to 5% on this offer) and make a positive community impact.
Vicky Dunn, Managing Director of Grimsby Community Energy, said: “We are proud to have kept our promises to our investors and our community, ensuring we pay members a fair rate of return and creating wider community benefits, including creating jobs and establishing a community fund.
“We are very grateful to organisations like NELC for the grant funding support which has been used to develop and deliver the project so far. Our team has worked hard to develop our business but there is so much more we can do with the support of local people, and businesses.
“We are working hard to raise funds for the first installation planned for October. You can invest from as little as £100 up to a maximum of £80,000 (option for instalments) to help us achieve our target of one megawatt of solar PV for Grimsby. It’s not a donation, as your money should receive interest while with us and can be withdrawn on request.
“We hope to encourage more local companies to invest in our latest share offer and support the continued greening-up of the town. This local investment gives them the opportunity to actually see the progress we are making on their doorstep.”
To find out more about Grimsby Community Energy opportunities and events visit https://www.grimsbycommunityenergy.coop
You can contact Grimsby Community Energy at The Hub, Freeman Street Market, Grimsby. Telephone 07932 086539 or email [email protected] Visit the website at https://www.crowdfunder.co.uk/p/grimsby-community-energy
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