Well some great news, with some bad news:
University of Chichester
After 18 months of negotiation and discussions with the University of Chichester over 2 roof-mounted Photovoltaic systems, the business case has become increasingly unfeasible and we have had to draw a line under it. The Government’s proposed aggressive reduction in FIT tariff has caused our preferred installer to go into liquidation and whilst we have found another supplier who claimed to meet the new installation deadlines of the December 31st, some unforeseen technical issues have escalated costs and created uncertainty over timescales.
Renewable energy reflections
Whilst we can hope that this Government might take note of the recent consultation responses, the UK solar industry is in disarray at the moment. So we will reflect on their response in the New Year and will continue to look at how we, as a community energy co-operative, could work on community-funded renewable and energy efficiency projects across the Arun and Chichester districts. Please let us know if there are particular interests or projects that you would like to see us pursue.
Local Solar farm
Now for the exciting good news! We are pleased to announce today the launch of a community share offer for Meadow Blue Community Energy, where we have partnered with Lewes-based OVESCO and the Wiltshire-based developer Mongoose Energy to create a new Community Benefit Society to deliver a 5MW solar farm. Located between Chichester and Bognor Regis near the village of Merston, it is one of the first in the UK to benefit from a split-site Government incentive where it sits alongside a more conventional, commercial 5MW installation. Because of its scale and structure, it can offer an attractive interest rate for community investors as well as deliver over £4M in community investment over 25 years. There is short window to sign up for this so we invite you to invest and become a member of this new Community Benefit Society. We would like as many local people to invest as possible in what may become an over-subscribed national offer.
A meet-the-directors event for people to find out more will be held on Tuesday 17th November, with sessions running from 4-6pm and 6-8pm. It will take place at Vicar’s Hall, The Royal Chantry, Cathedral Cloisters, Chichester PO19 1PX. The share offer closes on the 24th November.