North Lincolnshire Council is to invest £100,000 in shares in a community energy scheme that is installing solar panels on community and educational buildings across the region.
The investment will help the council and other organisations save council tax-payers’ money on energy bills.
As well as investing in clean energy, it will also be a sound investment as shareholders will be receiving at least five per cent interest on their investment.
North Lincolnshire Community Energy – a not-for-profit community energy company – has launched a second share offer.
Shares are available for anyone to buy, with a minimum of just £50.
The first 50 shareholders from North Lincolnshire will also receive a free family pass to Normanby Hall Country Park.
Cllr David Rose, Cabinet member for Environment, said: “This investment proves how much we believe in North Lincolnshire Community Energy.
“More than £1.6 million has already been invested in solar power in North Lincolnshire.
“Local schools are reaping the rewards of cheaper energy bills and everyone is benefiting from a reduction in carbon emissions of 500 tonnes.
“We want this to continue, and I would encourage local residents, if they are able, to get involved and invest in the environment.”
NLCE has installed 3,900 solar panels on 18 sites, including 11 schools, John Leggott College, the Baths Hall and Scunthorpe United Football Club.
Five more sites have been earmarked for the next stage in the programme, including Kingfisher Lodge Children’s Home and that Lindsey Lodge Hospice, which will all benefit from free panels and installation.
These plans can only go ahead if the share offer raises enough funding.
To find out more about NLCE, the share offer and how to invest, go to www.nlce.coop.
