Millions of pounds has been raised by a Dundee community group seeking to build a new solar farm on the outskirts of the city.
Construction will begin shortly after a crowdfunding campaign backed by 589 people raised almost £2.5 million.
The ground-mounted 2.6 megawatt solar farm will be erected at Bullionfield on the western edge of Dundee, near the Swallow roundabout.
A cable running under the A90 will deliver power to the solar farm’s customer, the James Hutton Institute in Invergowrie.
Dundee community group solar farm success
The unusual way of fundraising for a major project – with a maximum individual contribution of £50,000 – has been hailed a success by Dundee Renewable Energy Society.
The community group narrowly exceeded its target of raising £2.46m from the first phase of the share sale, which makes the project viable.
A second fundraising phase, which runs until April 30, will seek to raise the remaining £500,000.
Society chairman Richard McCready admits the group was a “little apprehensive” at trying to raise such a significant sum.
He said: “We’re delighted. It’s a lot of money to raise. We are now looking forward to getting the project up and running and generating electricity.
“We are currently in negotiations with Transport Scotland to improve the access to the site from the A90.
“The site has already been cleared so I am hoping the solar farm will be completed by the end of the summer.”
The plans started in a Dundee cafe six years ago with people discussing setting up a solar co-operative.
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The projected rate of return is 7% a year for the first four years, then 6% thereafter.
In addition, each shareholder will get to vote on what local projects benefit from a community fund.
Mr McCready said he was particularly keen for more local investors to take part in the latest share offering.
He said: “The project will raise around £1.4m in community benefit over the next 25 years.
“In order to target that to the right places we need local people to decide where the community benefit will go.”
Charities tackling fuel poverty will be among those likely to benefit from the fund.
James Hutton Institute owns the land at Bullionfield. It expects the solar farm to generate around 20% of its power needs at Invergowrie.
Dundee Renewable Energy Society is being supported an assisted by Energy4All Ltd with the share offer.
More than £85m has been raised for Energy4All’s community-owned renewable energy generation co-operatives at locations throughout the UK.
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