Bristol Energy Cooperative offers green investment choice
The co-op is offering a 3.5 percent return to improve renewable energy in Bristol
Last updated 13th Jan 2022
If you're lucky enough to have a bit of money going spare, why not invest it in cleaner energy for Bristol.
The Bristol Energy Cooperative (BEC) is asking people to fund projects like putting solar panels on the roof of the Bristol Beacon and is offering a 3.5 percent return on all money given.
The not-for-profit aims to raise £1million in just 12 weeks.
"The imperfect outcome from COP26 makes bottom-up action on the climate emergency even more vital," co-founder Andy O'Brien said.
"By using people power, we can raise money quickly, install more low carbon technologies, and drive a green recovery for the region where locals feel the benefits."
The money raised will go towards a range of renewable projects in Bristol and the South West, including a rooftop solar array on the Bristol Beacon music venue, which is currently under major refurbishment.
Re-opening in 2023, Bristol Beacon aims to be the UK's first carbon neutral concert hall.
The share offer will also help fund a microgrid scheme at an affordable community housing development in Bridport, Dorset.
The largest of its kind in the UK, the co-housing project will use practices for energy efficiency and renewable energy that will avoid the need for gas boilers or fossil fuels.
Set up in 2011, the co-op has raised over £14 million, and developed over 9MWp of solar and battery assets, enough to power roughly 3000 homes.
It also creates roughly 30 percent of Bristol's solar energy.
Katharine Wilkinson, Finance Director at BEC, said: “Our mission is to invest in renewables, and cut carbon, whilst putting ownership into the hands of locals so they can feel the benefits."
Over the past 10 years, the cooperative has channelled over £300,000 of community benefit payments into local sustainability initiatives, such as community gardens, education and biodiversity programmes.
Meanwhile, community spaces like Easton Community Centre and Knowle West Media Centre have benefitted from cheaper energy rates thanks to the solar installations by BEC.
Anyone can invest in BEC’s withdrawable shares, from £100.
The share offer is open until 31st March 2022.
For more information please see: https://bristolenergy.coop/share-offer-2022/