After exceeding its generation targets in its first month, Chesterfield Community Project has donated profits to a local project. The Freedom Community Project received windfall from a new solar farm in Oxcroft after the site made a surplus of energy. The Chesterfield Community Project is looking to give back to other worthy causes in the community too.
The 11.6 hectare solar site is part of a unique community energy project co-ordinated by Chesterfield Community Energy, in which a portion of profits from the sale of power are given to local worthy causes.
The Freedom Community Project is one of the beneficiaries of the Chesterfield Community Project and has received its first payment from the scheme.
The Freedom Community Project, which provides support for people who are struggling with debt, dependency and related issues within North East Derbyshire, welcomed the recent donation of £1,500.
A spokesperson from The Freedom Community Project, said: “This donation is fantastic news for the charity and we’re grateful to Chesterfield Community Energy for selecting us as one of its beneficiaries of the project. The ongoing funding will allow us to continue our vital services, which are a lifeline for local people.”
Adrian Pike, Chairman of Chesterfield Community Energy, said: “The Freedom Community Project is an example of a very worthy cause in Chesterfield and we’re delighted to be able to help. Community energy schemes such as ours can play a big part in local communities while helping to tackle climate change through the production of renewable energy.”
The project is funded by a mixture of private and public investment, with members of the public able to buy into the project through the purchase of bonds, which offer 5% gross returns, with the interest paid every six months for an initial three-year term.
The funds raised for the Chesterfield Community Energy project ended yesterday and Adrian Pike says he has been impressed with the level of interest from investors.
He said: “We believe this is a fantastic opportunity for people to be involved in a community project that has the potential to make a real difference on so many levels.”
For more information visit the Chesterfield Community Energy website.