5YJ Co-operative, a new London-based solar co-operative has announced that it will begin issuing shares.
The solar co-op will focus on investing in and operating small-scale solar photovoltaic installations across the UK.
5YJ Co-operative claims that members will benefit from an inflation protected interest income of at least 5% per year. The proceeds raised from the share issuance will be used to finance and install further solar energy projects, with revenue from the projects allocated to investor members.
The co-op recently announced the acquisition of its first solar project, a 4kWp array at the Halwill Manor Nursing Home in Devon. 5YJ Co-operative has already raised over £9,700 in pursuit of its goal of £150,000.
Co-founder and director of 5YJ Co-operative Jonathan Harris commented: “Given the current state of the economy and growing concerns around climate change, investing in solar energy presents a great opportunity. It provides savers with regular interest payments and long-term income stability, while increasing the production of electricity from clean and sustainable resources.”