Shropshire and Telford Community Energy (STCE) has successfully launched its second public share offer to secure the community ownership of Twemlows solar farm, near Whitchurch.
Helen Morgan, Liberal Democrat MP for North Shropshire, attended to meet with directors of the community benefit society and learn more of the financial benefits being generated for community organisations across Shropshire and Telford & Wrekin.
Members of the public attended the event (at the Festival Drayton Centre, Market Drayton. The Centre has already benefited from a £4,000 grant towards its rooftop solar PV, helping cut its electricity bill and generating income from exporting electricity.
Other recipients have included Harmer Hill Village Hall (for rooftop solar PV), Ellesmere Bowling Club (to provide energy efficient floodlights on its two greens and resurface a path at the site), Whitchurch Allotment and Community Orchard, and the Whitchurch Blackberry Fair.
Helen Morgan, MP for North Shropshire, said:
“Renewable energy is crucial for combating climate change and reducing energy bills for ordinary people. I’m looking forward to seeing community benefits distributed across North Shropshire as more clean energy schemes are rolled out.”
STCE chair, Robert Saunders, said:
‘I am so pleased that Helen, the local MP, was able to join us, hearing our presentation, explaining the success of our community owned 10MW solar farm, our biodiversity work, the grants to community groups and our ambitions for the future.
The share offer has already raised some £23,000.
The share offer enables the public to invest their money to tackle climate change directly, earn a fair return on their investment, and greatly increase the solar farm’s delivery of community benefit funds to local projects. The investment enables STCE to pay off some of its loans, strengthening its ownership of the solar farm, begun in December 2023.
STCE has already funded numerous community projects, distributing some £66,000 in Community Benefit Fund grants.
Dave Green, Treasurer, STCE, said:
“This was another exciting day in the story of STCE and our Twemlows solar farm. This share offer gives individuals the opportunity to invest directly and earn a fair return of up to 6%
with a low minimum investment of £250. Every pound invested helps support generation of clean power and delivers cash for some fantastic community projects.
“Our target is to raise around £500,000. Securing our community ownership will enable us to distribute around £3 million in community benefit over the next 16 years, including setting up new community energy schemes.
STCE has also helped fund solar PV and energy efficiency improvements across Shropshire, including several village halls. Little Wenlock Village Hall is now zero carbon, most recently supported with funding for replacement of their Calor gas cooker with an electric induction cooker.
The next opportunity for the public to find out more at a special event is on Thursday 17 July, 10.30-1.30pm, at the Wellington Orbit, Station Road, Wellington. The Orbit is being supported in its refurbishment by a STCE grant towards its improved energy efficiency and air source heating.
The Twemlows share offer is now live on the STCE website here: https://stcenergy.org.uk/investors-home/
Twemlows has operated successfully since 2016 as a 10MW solar farm, powering up to 3,400 homes. Each year it saves more than 4,000 tonnes of carbon dioxide, saving some 70,000 tonnes over its lifetime.
Any investment in a share issue is at risk and potential investors are advised to take appropriate advice. The value of the shares can go down, but they cannot gain value.
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