We have achieved 2 key steps on the road to becoming the UK’s first jointly owned community and commercial solar project.
First, with the support of the backers of the commercial side of the project, the order for our grid connection equipment has been agreed. There is a long delivery time for this equipment and we will know the delivery date soon. That will allow us to set the timetable for the whole project. We have also settled on our legal structure – a Co-operative Society, which is the form of mutual organisation which can make a return to its investors. We have therefore set in motion the formation of the Cuckmere Community Solar Co-operative Limited.
With the grid equipment order having been placed and the creation of the company, we’ve made the decision to launch a small round of investment (tax efficient under the Seed Enterprise Investment Scheme) to cover our start-up costs. At this stage we are looking for £150k of which we have to date found £120k. If you are interested in investing in this exciting project please do let us know.