Nearly 10,000 people across Britain have invested over £20 million in a community-owned solar park in Devon, expected to power 14,000 homes.
A community-owned solar park in Devon, Derril Water Solar Park, has been funded by nearly 10,000 members of the public across Britain.
The cooperative raised over £20 million in 2023, making it the largest cooperative share raise in UK history.
The site, once operational, will generate enough electricity to power around 14,000 homes for up to 40 years.
The owners will receive the low cost, renewable electricity through their energy suppliers, helping to lower their bills and emissions.
With installation underway, the park is scheduled to start generating power in late 2024 or early 2025.
Sarah Merrick, Ripple Energy Founder and Chief Executive Officer, said: “For the first time in the UK, we’re seeing a large scale solar park where people can both own a piece of the infrastructure and directly benefit from the clean energy it produces.
“This model of shared ownership and power is the future of sustainable energy.”
Rachel Ruffle, Ethical Power Chief Operating Officer said: “We’re thrilled to break ground on this pioneering solar farm that will help us decarbonise the UK’s electricity supply while making improvements to biodiversity at the site.”
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