A solar farm in Somerset is expected to generate around £3 million in surplus income until 2043.
That’s according to the owner of the community project, Burnham and Weston Energy CIC, which says half of the money will initially be used to support an energy grant fund, while the remaining 50% will go towards a fuel poverty advice service to help households who struggle with their energy bills.
The 50-acre, 9.3MW facility is made up of almost 36,000 solar panels, providing enough power to supply more than 2,000 homes.
A community bond offer will enable people and organisations to get involved in how the money is spent.
Director of Burnham and Weston Energy, Tom Cosgrove, said: “As a community interest company we can dictate what we spend our profits on.
“Energy costs Burnham and Weston £360m per year and almost all it leaves the economy but our project is a step towards a future of generated energy from renewable sources, and the value of our energy economy being retained locally.”