THE first steps are being taken towards full community ownership of a solar farm near Lee Moor that could see thousands of pounds each year handed out to locals.

The 4.3 megawatt solar array recently completed on brown field, former china clay land at Portworthy Dams generates enough energy to power around 1,300 homes every year.

Ivybridge sustainability group PL:21 Transition Initiative aims eventually to set up a local community energy company that will own the solar array.

In the meantime, however, PL:21 has teamed up with not-for-profit industrial and provident society Bath and West Community Energy, and the two groups are raising money so that the facility can be bought as soon as possible.

In order to generate the final nearly £1.7 million needed, BWCE is offering investment in a two-year fixed interest bond. Together with nearly a million pounds already raised by the organisation, and a loan of just over £2.5 million, the bond will help reach the purchase cost of £5.089 million.

PL:21 is currently developing a new, local community energy company, which it anticipates will take on the solar array after two years. As a community enterprise, the scheme is expected to generate more than £20,000 each year that can be given out in grants for the benefit of local people.

The bond offer, and how people can get involved will be explained fully at a public meeting on the Wednesday, January 13 in the Watermark, Ivybridge, at 7pm.

Chair of Bath and West Community Energy Peter Capener said: ‘Renewable energy installations have shown to be good investments over the last few years and we expect this opportunity to be snapped up quickly. The two year bonds will have a 5.5 per cent per annum interest rate, the minimum investment is £500 and the offer is open until the January 31.’

PL:21 Renewables expert Peter Crone, added: ‘This is an exciting opportunity for people to get involved in a local renewable energy scheme. We look forward to working with communities across the area and to ensuring this solar farm becomes a successful community energy enterprise.’

Anyone keen to find out more should attend the meeting on January 13, or visit the Bath and West Community Energy website for more information: www.bwce.coop. The meeting is being supported by a grant awarded to PL:21 by Devon County Council through the RegenSW Community Acceleration Project.