A Brighton and Hove community energy group is raising funds through a new share offering, with work under way at a school in Portslade.
Brighton and Hove Energy Services Co-operative (BHESCo) said that it was “raising funds to develop a series of low-carbon energy projects across Sussex”.
BHESCo said: “The projects will feature a mix of energy efficiency and renewable energy technologies and will include a school, an equestrian centre, a business park, an industrial estate and a wine estate.
“By meeting upfront project costs from community investors, BHESCo is able to remove the financial barriers that can prevent property owners from taking action to reduce the environmental impact of their buildings.”
The energy co-op offers shareholders a return of about 3 per cent although this is not guaranteed. To find out more, click here.
BHESCo founder and chief executive Kayla Ente said: “We have seen a very positive response from investors who want to mobilise their money for the good of the planet.
“Despite the economic challenges facing the UK right now, our investors understand that there is no time to waste when it comes to tackling the climate crisis.”
BHESCo added: “In addition to helping the UK meet its net zero carbon emissions targets, these projects will deliver big savings for the community at a time when energy bills are a top priority for everybody.”
Since BHESCo’s first share offer in 2015, it has raised £1.4 million from 400 shareholders, funding 58 projects and generating lifetime savings estimated to total about £2 million.
The latest share offer us due to close on Friday 31 December.
Meanwhile, work is continuing at Hill Park – a special school in Portslade which was rated outstanding by Ofsted in the summer.
BHESCo has commissioned a contractor to fit 175 solar panels on to the roof of the school, with the installation due to be completed by the end of next month.
The energy co-op said that the panels should save the school more than £220,000 over the next 20 years.
The main boiler was due to be replaced at the lower school site in the current financial year as was some roofing as part of a six-figure makeover.
BHESCo added: “Most projects are delivered at no upfront cost to customers using an innovative ‘pay as you save’ finance model.
“BHESCo is dedicated to tackling fuel poverty and provides free energy advice around the city every winter.
“Since 2015 they have helped over 3,000 local residents and businesses save an estimated £250,000 on their fuel bills.”