A new renewable energy crowdsourcing project is to offer investors a fixed return in hope to raising £896,000 of funding.
The SunShare Community Nottingham project, launched via the Abundance Generation this week, is looking to fund 572kWp of existing roof-mounted solar panels in the city.
The panels are located in 20 sites across Nottingham associated with child development, including schools, leisure centres and a library.
The project is offering a fixed return of 6.5% a year over the 19-year life of the investment, but Abundance has boosted the return rate to 6.65% with a ‘pioneer bonus’ to celebrate its first fixed-rate offering.
The project is the sixth offered by the crowdfunding site since the its launch two years ago. It has raised £3million for renewable projects in that time, with its two most recent projects generating £700,000 in just 35 days.
“We know from the rapid take up of the previous five projects that savers and investors are desperate for inflation beating returns and would much rather get them through investing in the real economy in assets that they can see, trust and believe in,” said Bruce Davis, cofounder and joint managing director of Abundance Generation.
“We are proud to be leading the democratic finance revolution currently underway in the UK.”
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