The council’s successful project to help install solar panels on schools and community buildings has moved to the next stage – a second community share offer.
By pledging as little as £50, local residents will have a stake in the project – and can expect at least a five per cent return on their investment.
The scheme – run through community benefit society North Lincolnshire Community Energy (NLCE) – has seen 18 local buildings make the switch to solar energy.
As well as schools including Sir Frederick Gough, St Hughs and Bottesford Junior and Infants, panels have also been installed on John Leggott College, Ashby Hub, The Baths Hall, North Lincolnshire Museum and, most recently, at Scunthorpe United Football Club.
More than 300 panels have been installed at the club that will generate 101,600 kwh of power – up to 70 per cent of the club’s consumption. This will save thousands of pounds in energy bills every year.
Since the scheme began in 2022 it has saved more than one million tonnes of carbon. From January to September 2024 more than £57,000 in electricity bills was saved and 112 tonnes of carbon.
A 2023 share offer, giving local people a chance to have a stake in the company, last year raised £576,000 – helping fund the next stage of the project.
More funding is now needed to push the groundbreaking project out further to include more schools and community buildings such as children’s homes and Lindsey Lodge Hospice.
You can invest just £50 in community shares. The money will be used to fund more solar panels, but investors also get at least a five per cent return on their investment.
The closing date for the share offer is 28 February 2025 – or when all the shares are sold, so act now to ensure you don’t miss out.
Shares can be bought and held in trust for children or grandchildren – a wonderful way of investing in their future, both financially and environmentally.
Cllr David Rose, cabinet member for the environment, said: “This is an opportunity for the community to get involved in practical action to mitigate climate change.
“This aligns with our ambitious Green Future plans which are designed to not only reduce our impact on the environment but also help other organisations too.”
For more information and to download the share document and apply for shares, go to www.nlce.coop.
This share offer is a long term investment in shares to deliver environmental and social impacts as well as a financial return. As with any investment there are risks. The value of investments is variable and can go down as well as up. Your capital is at risk and may not be readily realisable. Returns are projected and variable, depending on the performance of the project, and are not guaranteed. Consider all risks before investing and read the offer documents. North Lincolnshire Community Energy Limited is registered under the Co-operative and Community Benefit Societies Act under Registration Number 8805.