Investors sought for solar energy scheme at the Cube.

First published in News

A NEW co-op dedicated to providing renewable power sources in the Malvern area is offering people the chance to invest in ethical energy.

The Malvern Energy Generation Co-op (MCEC) has been set up by Transition Malvern Hills and its first project is to provide solar panels for the Malvern Cube community centre in Albert Road North.

And the co-op is hosting a meeting for potential shareholders on Monday, March 10, at the Cube, starting at 8pm, for people who want to get more involved.

Robin Coates of Transition Malvern Hills said: "Local community energy co-operatives are a valuable way forward in reducing our reliance on damaging fossil fuel energy sources. There are examples in the UK and a very large number in the rest of Europe."

Among local examples are a co-op in Leominster to put solar panels on the leisure centre, and another in Woolhope to supply biomass boilers.

He said: "We have chosen the Cube as our first building because of the social value we can create by reducing the Cube’s electricity bills, as well as being capable of delivering a modest return to MCEC’s members/community subscribers.

"The minimum shareholding is £250. We are still finalising the sums but we expect the average annual rate of return to be in the region of three per cent for non-taxpayers and more than twice that for taxpayers. "

The co-op, which has ten volunteer members, has already secured planning permission to install the panels on the roof of the Cube.

Anyone who wants to find out more should contact malverncommunityenergy.org.

Comments

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree