2nd year’s 6% share interest payment made to Ferry Farm Community Solar Ltd’s members
The Ferry Farm Community Solar Project, near Selsey in West Sussex, has been generating electricity and income from the sun since June 2016. Following completion of the second full year of successful operation and the AGM, the community benefit society is pleased to announce the second share interest payments have been made to members. Members received a payment equivalent to 6% per year as intended in the share offer document.
The development and finance of the 5MW community solar project was managed by Communities for Renewables CIC working with Triple Point, BNRG and Langmead Group. The community share offer raised over £300,000 towards the cost of building the solar farm.
Ferry Farm Community Solar has had an all-round fruitful first two years for both electricity generation (exceeding projections) and community impact – launching its fuel poverty campaign with local advise agency Selsey Works and allocating over £30,000 in grants to community clubs and projects.
The Ferry Farm Community Solar community benefit society is governed by local directors, and recently welcomed a new director, Nick Jones, to the board. Nick has been on Selsey Town Council for 15 years and owned the locally famous Rudwick’s Hardware Shop. Nick is excited about being involved with such an active and innovative local project and commented “with the wonderful weather Selsey has, we can add to the national grid, helping the community by generating green energy”.
Surplus income generated by the project is used to support an energy and fuel poverty advice service managed by Selsey Works and a community grant fund managed by the Selsey Community Forum. The third round of community grant awards has recently been made.