Renewable energy crowd funder Abundance Generation has raised £665,000 for two solar farms in Kent.
Abundance allows people to make investments in clean energy projects from as little as £5.
The two 249kW sites, collectively known as BNRG Gorse, have more than 530 investors. It attracted £250,000 of investment in the first 17 days following the start of construction work.
“BNRG Gorse provides another chance to invest in renewable energy, meaning you can make money while supporting the planet,” said Bruce Davis, co-founder and joint managing director of Abundance Generation.
“By having a direct link to RPI each year, plus interest on top, this project means investors will beat inflation, before tax, while knowing their money is being put to productive use in Britain's real economy,” he said.
The project takes Abundance’s total funding raised past the £6 million mark since its launch in July 2012.
“The Kent BNRG Gorse solar is our second project with Abundance,” said David Maguire, director, BNRG Renewables. “Our first saw £385,000 raised in March 2013 to refinance a 249kW solar project. This paid its first cash return to investors in September at a rate 8.4% above the level originally projected. As a team, we’re looking forward to rolling out many more projects in the future – helping more and more people become part of the so called win-win economy,” added Maguire.