Economy
Abundance seeks investment in rooftop solar project
Abundance Generation has launched the financing stage for its fourth renewable energy project. Investors are able to pledge as little as £5 to fund the installation of solar panels on new properties across England, which will give “inflation-beating” returns.
Among Abundance’s first three projects, which successfully raised £2.3m between them, are wind turbines and solar farms.
Speaking on the launch of this latest funding run, co-founder Bruce Davis said, “With more than £2.3m now invested in the three previous projects now fully funded through Abundance, we are pleased to open the doors on our fourth.
“This project is significant as it shows how renewable energy development and new build property can work hand in hand.”
Davis also emphasised the benefits to all parties: “The panels are all installed as part of the actual build process, so when the occupants move in, they will already enjoy free electricity while the sun is shining, while our investors enjoy attractive, inflation-beating returns.”
With traditional financial services firms, such as the high street banks, subject to intense criticism by politicians in recent weeks, Davis said, “Abundance is proving a very popular new solution.”
The firm aims to “crowdfund” more than £10m by the end of this year – from both small and large-scale investors.
Rebecca O’Connor, editor of Trillion Fund, recently wrote about the benefits of direct investment in renewable energy in an article for Blue & Green Tomorrow.
Further reading:
Why investing directly in renewables projects is a worthwhile venture
Bruce Davis, Abundance: ‘we can do something different with money’