Egni Co-op, has secured the Feed in Tariff (FiT) subsidy for rooftop solar panels on 250 sites in Wales, which will have an installed capacity of over 5,000kW. Sites include businesses, community centres and universities; golf, football and rugby clubs; a brewery, leisure centres and schools.
Rosie Gillam, Egni’s Director, announced “With climate change top of the agenda, we are delighted to announce that Egni Co-op’s community Share Offer is now open. We’re inviting members of the public to invest in rooftop solar power across Wales through our coop. This is an opportunity for Wales to take the lead and for as many people as possible to get involved in this cooperative effort."
The solar rollout will deliver:
- Projected 4% return
- 5,000kW of new solar on roofs
- Carbon savings of 35,000 tonnes over the project lifetime
- Educational Fund of £2.9m for work in schools and universities on climate change projects
- Electricity savings of £8m for the sites over the next 30 years.
Egni Co-op are seeking £750,000 to finance a rolling programme of solar installations from now until March 31st 2020. They have already secured £380,000 of this total from existing co-op members who have given their strong backing. And they will pay interest from when funds are received.
Merthyr Rugby Team, one of the sites ©Matthew Kilgariff
Dan McCallum MBE, Egni’s Chair said “We are working with some fantastic organisations such as Precision Engineering in the Rhondda which designs, tests and manufacture tools and components; Calon Tysul Leisure Centre which offers a range of facilities including swimming pool, kayaking, a sports hall with badminton, basketball, 5-a-side; and Merthyr Town Football Club, one of the first supporter-owned clubs in the UK.
"40% of all UK applications were submitted by Egni which is based in Cwmllynfell. This is a remarkable achievement by our staff and will help us in our ambition to ‘solarise’ Wales!”
The team behind this Share Offer have already successfully developed Awel Co-op (www.awel.coop) and raised over £3m from community shares. A 4.7MW community wind farm has been built which was commissioned in January 2017.
Egni Co-op is part of a global community energy movement. In the UK alone the sector is worth £190 million with 30,000 people investing in 222 community energy groups. Altogether the UK movement has built 188 MW of renewable energy capacity.
By joining Egni Co-op, a member will be part of a not-for-profit, community-owned enterprise, growing the local green energy supply. As well as providing members with a projected 4% return on their investment, all the sites will receive green electricity at a reduced price, thereby lowering their running costs & carbon emissions, and Egni Co-op will have the capacity to expand its education and awareness-raising programme.