This offer is Wales’s first community-owned solar farm and has been co-ordinated with the help of Gower Power Co-op CIC. In March 2017 Gower Regeneration's solar array was commissioned, meeting the deadline for the Renewables Obligation: a subsidy that will make up over 50% of the Society’s income for the next 20 years. The commission and build was secured through a £992,000 loan from Finance Wales.
This community share offer for up to £1.085m now enables you to invest in, and take ownership of, the scheme. Gower Regeneration wants to support fantastic local projects with far-reaching social benefits and expects to generate a surplus of over £550,000 towards this aim.
The Welsh Government loan used to build the farm needs to be paid off. Repaying the loan with generated income would be possible, but your investment will offer Gower Regeneration a better return than an institutional lender and therefore enable a greater surplus to be created so that the long-lasting benefits the Society aspires to create can be delivered.