Ferry Farm Community Solar makes first share interest payment
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 first full year of operation and a successful AGM, the community benefit society is pleased to announce the first 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.
The Ferry Farm Community Solar community benefit society is governed by local directors. Surplus income generated by the project will be used to support an energy and fuel poverty advice service managed by Selsey Works and a communtiy grant fund managed by the Selsey Community Forum. The first community grant awards will be made later this year.