Ethical investment platform Abundance has launched a new solar investment opportunity which aims to install 500 rooftop solar installations under the Green Deal, taking its available renewable energy investment portfolio to £4 million.

The project, dubbed Ecossol PV, is aiming to raise between £600,000 and £1.9 million to part-fund and manage a portfolio of rooftop solar systems in the north east of the country, promising effective rates of return of 7% over the project’s 19-year lifetime.

Ecossol PV will receive feed-in tariff payments paid for the electricity generated by the installations and investors will receive twice-yearly returns.

Abundance is also launching an investment round for a 500kWp Vestas wind turbine located at the Hinton wind turbine project in South Gloucestershire, offering returns of between 8% and 9.1%.

Bruce Davis, co-founder and joint MD of Abundance, said that recent research carried out by the firm showed that 70% of people in Britain wanted to know where their money was being invested and that it was being invested ethically.

“Consequences is indeed a rarely used word in the investment world, and we are proud to be leading the way in offering investments where the consequences for all are so positive,” Davis added.

Abundance was launched three years ago and has raised more than £10 million for renewable energy projects to date.