UK's Swindon Borough Council plans second solar bond
Whitley Solar Farm sheep. Source: British Solar Renewables. License: Creative Commons, Attribution-ShareAlike 2.0 Generic via flickr.
Swindon Borough Council's cabinet will consider offering a second solar bond to residents at its meeting on October 19, the council said this week.
If given the green light, the bond would fund a 5-MW solar farm on a council-owned former landfill site at Chapel Farm in Blunsdon. The solar farm already has planning consent and has been developed by Public Power Solutions (PPS), a company owned by the council.
Construction of the facility would cost GBP 5.4 million (USD 6.6m/EUR 5m), of which GBP 3 million would be invested by the council, while the remaining GBP 2.4 million would come from community investors. The target date for launching the bond offer is November 1.
Swindon Borough Council's first solar bond offer raised GBP 1.8 million earlier this year.
The council said that the new solar farm will help it reach its target of installing 200 MW of renewable capacity by 2020 by taking the present total to 167 MW.