Co-op earmarks £1m for community renewable projects
The money will help support co-operatively owned renewable energy projects
The Co-operative Group is earmarking £1million to help increase the number of community-owned renewable energy projects across the UK.
Launched by the Co-operative Enterprise Hub, the company’s one-stop shop for free advice, training and access to finance for new and existing co-operatives, the fund will help support co-operatively owned renewable projects.
The co-operative believes that through the Hub’s enterprise development, mentoring, technical advice and the underwriting of community share issues, communities can be empowered to set up their own energy schemes, enabling them to do more to tackle climate change.
Michael Fairclough, Head of Community and Co-operative Investment at the Co-operative, said: “The investment is designed to support and encourage co-operatively owned renewable energy projects – providing the tools to create the next generation of sustainable community co-operatives that can control, generate and benefit from their own renewable energy.
“Ambitious community-led projects can contribute to a step-change in people’s thinking about energy and, inspire others to take action – a catalyst for a clean energy revolution across the UK.”
Over the next two years the Co-operative is committing £6m to the Enterprise Hub, which aims to spark a resurgence in community-led solutions to the running of businesses and services.
To find out more information about the Hub click here.
Source: E2B Pulse (http://www.e2bpulse.com/Articles/302636/E2B/Pulse/News/News_Articles/2012/Co_op_earmarks.aspx)