Latest news with #solarenergy
BBC News
2 hours ago
- Business
- BBC News
Workington Leisure Centre solar panels 'to cut running costs'
Solar panels have been installed on a leisure centre as part of efforts to reduce costs and protect the Leisure Centre in Cumbria has been fitted with 160kW panels, which will provide about 20% of the site's electricity installation is expected to save money on running costs and generate income by exporting electricity back into the National Grid during periods of low Council's executive member for vibrant and healthy places, Anne Quilter, said the solar panels were one way the council was working to "build a greener, more sustainable future for [its] communities". She said their installation also aligned with the Labour-led local authority's "commitment to tackling the climate emergency and building environmental resilience" across the solar panels were paid for using capital grant funding from the Sport England Swimming Pool Support Fund, which also helped to pay for panels at The Sands Centre in Carlisle. Tom Rice, partnership manager at Greenwich Leisure Limited, which runs the centre, said: "One of our key priorities is to futureproof leisure facilities across [the area] and champion environmental resilience."He said the cost savings made from selling electricity back to the grid would be reinvested back into the leisure centre. Follow BBC Cumbria on X, Facebook, Nextdoor and Instagram.
BBC News
2 hours ago
- Business
- BBC News
Public share offer set to launch at Shropshire solar farm
A community energy group is set to launch a second public share offer to invest in a solar farm in and Telford Community Energy (STCE) is offering people the chance to invest in clean, green power through a share scheme for Twemlows solar farm. Profits from the farm near Whitchurch have already helped fund village halls, cinemas and more — and this next phase could see £3m generated for good causes across the offer launches on Friday 6 June. STCE took ownership of the 10MW solar farm in December 2023. It said the share offer would enable the public "who care about climate change" to invest their money to tackle the issue said the offer will also allow STCE to pay off some of its loans, adding it will: "strengthen its ownership of the solar farm".Treasurer of STCE, Dave Green, told BBC Radio Shropshire the launch would significantly increase the amount of money the site would generate for community said: "Our target is to raise around £500,000. Securing our community ownership will enable us to distribute around £3m in community benefit over the next 16 years, including setting up new community energy schemes."The Twemlows share offer is not just supporting a cleaner, greener and fairer future, it will directly benefit local community projects for many years to come."The public share offer is being launched at an event at the Festival Drayton Centre, Market Drayton, on Friday between 10:00 BST and 13:00 BST. Follow BBC Shropshire on BBC Sounds, Facebook, X and Instagram.
BBC News
7 hours ago
- BBC News
Knaresborough: Church solar panels in trial to power nearby homes
A church in Knaresborough is taking part in a trial in which 91 solar panels on its roof could help power nearby homes and businesses, including the fire scheme will see the newly-installed panels divert any excess energy to the local community, rather than return it to the National is part of a wider trial, commissioned by energy regulator Ofgem, testing how renewable energy generated in local neighbourhoods can be shared more Reverend Gordon Hay, of Gracious Street Methodist Church, said: "The idea that we could share some of that energy with our neighbours – people who live or work just around the corner – feels like exactly what a church should be doing." There are 78 homes and small businesses on the same local electricity circuit as the church, including the town's fire station, and the aim is to ensure that clean, affordable energy can benefit them overall scheme, which includes similar initiatives at two other local sites, is being led by Knaresborough Community Hay said: "It started with members of the congregation asking, 'what more can we do?' "We're already a community hub – now we can be an energy hub too."Alongside the wider environmental benefits, the church is also hoping to improve its finances, since the panels - which were installed over the Easter period - should help reduce energy bills. Tim O'Brien, Net Zero Officer for the Yorkshire North & East Methodist District, said: "This is about building a smarter, more community-focused energy system. "Instead of relying on energy being pushed in from far away, we can generate it here in Knaresborough, and use it here – saving money and cutting waste."He suggested the scheme could also reduce the need for major infrastructure, such as pylons and underground cables, which are typically required to carry electricity over long residents can find out more about the scheme at an exhibition at the church on Saturday 7June, as part of the Great Big Green Week. "In a world that often feels uncertain, this is something positive and grounded," said Mr Hay. "It's not about grand statements. It's about doing the right thing – for your neighbours, your town, and your future."
BBC News
10 hours ago
- General
- BBC News
Bid to turn former tip in Loughborough into public space dropped
A bid to turn a former rubbish tip in Loughborough into a new park or public open space has been dropped. Charnwood Borough Council says it planned to transform the former refuse site behind Loughborough recycling and household waste centre into a new public open space. However, no progress has been made on the plan in the last 20 years and the council says it has been left with "no route" to complete the project due to lack of cash. Officers have now asked the council's ruling cabinet group for permission to lease the site to a company nearby, which plans to install solar panels on the land to power its premises. A report compiled for the cabinet says the land is currently not occupied or maintained in any way and is not accessible to the adds there is a locked gate, but it is often "breached" and "used for anti-social behaviour purposes, such as motorcycle riding and illegal camping".The report says: "Local government now faces significant challenges, both in terms of funding and in terms of local government reorganisation, which may continue to prevent any meaningful redevelopment of the site."Officers had considered installing solar panels on the site themselves in 2022, but realised they would not be able to connect the panels to the National Grid for another 10 years. Instead the authority is now looking to lease the land to an unnamed company which plans to install its own solar panels to power its premises nearby. The council's cabinet is being asked to confirm the land is surplus to requirements and approve the lease at its meeting on 6 June.
Daily Mail
20 hours ago
- Business
- Daily Mail
FORESIGHT SOLAR: Solar farm fund struggles to keep the lights on - but is fighting back
Stock market listed Foresight Solar Fund is in retrenchment mode. It's selling assets – some of its solar farm sites – and buying back shares from shareholders. In just two weeks it faces a discontinuation vote at its annual general meeting, although the special resolution is unlikely to garner sufficient support. Two thirds of shareholders would have to back it to go through – a similar vote last year was not supported. The trust's board also recently confirmed that it had been in 'discussions' with other parties about the future of the fund. Although Foresight remains schtum about the nature of these talks, they are likely to have involved a merger with a similar trust – or going private. It all represents a massive state of flux which will deter many investors from going anywhere near it. Yet Foresight has one big attraction, in the shape of the income it derives from the energy its solar panel farms generate. Since launching in late 2013 the trust has increased the dividends it pays to shareholders every year. For the 2024 financial year it handed out quarterly dividends totalling 8p a share. This year the intention is to tickle up the annual payment to 8.1p. For new investors this income is made all the more compelling by the fact that the trust's shares sit at a massive 30 per cent discount to the value of underlying assets. The result is a share price of 77p, compared to the £1 price that shares were issued at in October 2013 – and an annual dividend equivalent to 10.6 per cent. Foresight is not alone. Double-digit share price discounts are currently common within the renewable energy infrastructure trust sector – and, for that matter, across infrastructure funds generally. They are a reflection of higher gilt yields, making these income-focused trusts comparatively less attractive. Concerns over persistent inflation, weak economic growth and sticky interest rates have also dampened institutional interest. Over the past year the average renewable energy infrastructure trust has delivered investors a total loss of 6.7 per cent, while Foresight's losses are less at 1.5 per cent. To contextualise, Foresight has generated a ten-year return of 46 per cent. Ross Driver, manager of Foresight Solar, says they are doing all they can to improve matters. The solar sites it owns in Australia are being disposed of, as are selected operations in Spain and the UK. In total, it has sites in 58 locations. The proceeds of any sales, says Driver, will be part used to pay down borrowings and return cash to investors. He adds: 'We're selling assets and pulling all the levers while paddling with as many oars as possible in a tsunami.' Driver insists that if sentiment within the asset class improves his trust offers investors a good income, with the potential for share price growth. It's a view shared by some analysts. In a note last month, investment bank Peel Hunt said that Foresight Solar's shares offered 'an attractive tactical opportunity' while Rachel May, research analyst at investment group Shore Capital, says that the trust's board is trying hard to narrow the share price discount. While some people are unhappy about the impact of solar farms blighting the countryside, Driver says it's a trade-off. 'We need to decouple the country off a volatile gas price,' he adds. The trust's annual charges total 1.2 per cent and the stock market identification code is BD3QJR5. Its market ticker is FSFL. In total, investment house Foresight manages assets of £12 billion, primarily in infrastructure.
