Jonathon Porritt has personally invested in a portfolio of solar and hydro projects in Devon organised by the Totnes Renewable Energy Society (TRESOC).
TRESOC is looking to raise £1.5 million of investment from the community in order to develop the six renewable energy schemes across Devon.
The proposed portfolio boasts an extensive solar PV pipeline including, installing solar on a number of South Devon Rural Housing Association properties, a PV array on Torquay Museum and an agricultural solar installation at Hatchlands Farm.
In addition to the solar projects, TRESOC has lined up two hydro systems on the River Dart at Totnes Weir and Staverton Leat. A hydro project on the River Teign at Chudleigh has already been completed.
Commenting on the planned projects, TRESOC managing director Ian Bright said: “We need £1.5 million in investment to finance the projects we have secured which will put South Devon ahead as a beacon for community-owned renewable energy development. People can invest as little as £20 or as much as £100,000. Community renewable energy projects have become a hot issue now with investors seeking a safe haven and a steady income for their money.”
Bright added that the government’s new community energy strategy ‘strongly supports’ community energy investments, he added: “In a competitive commercial environment with some community energy groups struggling to find a renewable energy project, TRESOC has secured six consented projects that will generate income as soon as the investments are placed.”
The deadline for the share option is 23 July 2014.