Saturday 22nd October 2016                 Change text size:

Competition: win £250 to invest in renewable energy

Photo: Abundance Generation via Flickr

Award-winning renewable energy investment platform Abundance Generation is giving two people the chance to win £250 worth of investments in renewable energy, as part of Climate Week (March 3-9).

All you have to do is guess how much electricity, in kilowatt hours, its Hoo Solar project will generate during the seven-day event.

Two prizes will be handed out for the closest guesses. Closing date is 11.59pm on Sunday.

Abundance offers investors the chance to take out debentures in renewable energy projects. These are a form of IOU that commit the energy project to paying back regular cash sums based on how much electricity is generated.

Anyone aged 18 or over can invest amounts as little as £5 in the projects, with returns somewhere in the region of 6-9%.

Located in near the village of Monkton in Kent, a total of 294 people pledged £385,000 between them to fund the development of Hoo Solar. The park consists of 999 solar panels which have a generation capacity of 249.75 kilowatt peak (kWp).

Hoo Solar was the third Abundance project. Its maiden investment drive was for a wind turbine in the Forest of Dean, which provides power to 450 homes in the local area.

The Abundance website includes stats on how much electricity Hoo Solar has generated so far – which should help people formulate a guess. Meanwhile, it would also be wise to check the weather forecast to estimate how much sun the panels will see.

For details on how to enter the competition and more about Abundance, see here. Prizes are subject to terms and conditions.

Further reading:

Abundance Generation: crowdfunding the future of energy

Renewable energy second most popular investment for British public

Abundance launches crowdfunded renewable energy project in Kent

Nottingham solar project raises £500,000 in less than a month

Top 10 reasons to invest in renewable energy projects

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