UK’s Swindon Borough Council to start building 5-MW solar farm
Jan 4, 2017 16:30 CET
January 4 – Swindon Borough Council said today that construction on the 5-MW Chapel Farm solar park will start next week after its second solar bond offer successfully raised more than GBP 2.4 million (USD 2.9m/EUR 2.8m).
The 18,860-panel solar farm will be built on a council-owned former landfill site at Blunsdon, with construction expected to take about 10 weeks.
The project has been developed by Public Power Solutions (PPS), a company owned by the council, which devised the innovative funding model that combines public sector funds and community investment.
The bonds sold out over a month early, according to the announcement, closing on December 23. The offer attracted more than 800 investors from the local community and across the UK. Swindon Borough Council will directly invest the remaining GBP 3 million construction costs.
“Chapel Farm will give a new lease of life to an ex-landfill site: as a solar farm, a managed biodiversity hotspot, and as a place for sheep to graze for part of the year,” said Steve Cains, head of power solutions, PPS.
Swindon aims to install 200 MW of renewable capacity by 2020, with Chapel Farm bringing the total to 167 MW.
(GBP 1.0 = USD 1.225/EUR 1.177)
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