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One week left for solar shares at Leominster school
Updated 4:39pm Thursday 10th July 2014 in News
THERE is only one week left to buy shares in a large solar array at Leominster's new primary school.
Five weeks into the community share offer, more than one third of the money required to pay for the array has been raised.
But more is needed to help meet the total of £150,000.
Ben Whittle, director of the new Leominster Sunrise Co-op, said: “The lease has now been signed with the council and the feed-in tariff has been applied for to provide flexibility for when the array connection is made live, without this dropping.
"We’re just waiting for the installation of the new meter, to measure how much electricity the array is producing and how much is used by the school and how much goes to the grid, any day now.
“This is a fantastic opportunity for local people, those concerned with climate change and families and friends of past and present pupils at the school to help future-proof this wonderful news school in Leominster.
"It’s not often you see a project at such an advanced stage, with so many benefits for existing and future generations of school children, that will also provide you with a good return on your money.
"We hope people will be biting our hand off to buy shares in this last week, so we reach our total”.
The share offer is open until July 18.
The school will get cheaper electricity as a result of the array and members of the co-op are predicted to get an internal rate of return of 4% – which is boosted to 10.4% with Seed Enterprise Investment tax relief.
For more information, please see leominstersunrise.org.uk