Westmill Solar Co-operative is the industrial and provident society that owns the Westmill Solar Park in Oxfordshire , England , believed to be the largest community-owned photovoltaic power station in the world.
Project
The project was originally conceived by Adam Twine, the pioneer behind the Westmill Wind Farm Co-operative , built in 2011 and registered for the UK feed-in tariffs . It has a capacity of 5 MW P .
Westmill Solar Co-operative acquired in October 2012, under an option agreement with the original developers. It raised the need for public finance and private equity with a pension fund.
Westmill Solar Park
Westmill solar park is in the United Kingdom located on a 30 acre site near Watchfield , on the Wiltshire / Oxfordshire border, just off the A420. The site adjoins that of the Westmill Wind Farm Co-operative .
The solar power plant has over 21,000 solar panels [1] and has been operational since July 2011.
When acquired by the Co-operative, it was the largest community-owned photovoltaic power station in the world. [2]
Co-operative membership and equity
The Co-operative Invited members through a public share offer, lancé in June 2012. DESPITE the tight timetable Caused by the expiry dates on the option, [3] the outcome Was 50% over-subscribed, [4] When It closed at the end of July. This raised £ 4m from c. 1,650 members. [5]
An additional c. £ 2m was raised by a private placement of B-Shares, mainly from members who had subscribed to the original issue.
Other financing
The Co-operative is a 23½-year senior debt bond. Reviews This was Arranged with the Lancashire County Council Pension Fund, [6] in What Was Believed to be the first major funding by a local authority in community-owned energy infrastructure. [7]
See also
- Westmill Wind Farm Co-operative
- Westmill Woodland Burial Ground
- List of energy cooperatives
References
- Jump up^ “The Solar Park” . Westmill Solar Co-operative . Retrieved 28 February 2013 .
- Jump up^ Bredenberg, Al (5 November 2011). “British Cooperative Launches World’s Largest Community-Owned Solar Park” . inhabitat . Retrieved 28 February 2013 .
- Jump up^ Goodall, Chris (27 July 2012). “Bid to create world’s largest community solar farm funding funding milestone” . The Guardian . Retrieved 28 February 2013 .
- Jump up^ “Investors rush to get shares in community solar farm business” . Oxford Times . 17 August 2012 . Retrieved 28 February 2013 .
- Jump up^ “Members” . Westmill Solar Co-operative . Retrieved 28 February 2013 .
- Jump up^ Browne, Dominic (7 February 2013). “Lancashire invests pension fund into solar cooperative” . LocalGov . Retrieved 28 February 2013 .
- Jump up^ Blackburne, Alex (8 February 2013). “Westmill solar co-op gets £ 12m backing from Lancashire board pension fund” . Blue & Green Tomorrow . Retrieved 28 February 2013 .
