“People power”

New campaign harnesses "people power" to fuel growth of green energy in the South West

Bristol Energy Cooperative (BEC) has launched a new share offer campaign to help tackle the climate emergency. The not-forprofit aims to raise £1million in just 12 weeks, to develop more green, clean energy projects across the region, at speed.

"The imperfect outcome from COP26 makes bottom-up action on the climate emergency even more vital" comments Andy O'Brien, co-founder and director at Bristol Energy Cooperative. "By using people power, we can raise money quickly, install more low carbon technologies, and drive a green recovery for the region where locals feel the benefits." BEC's business model of raising funds has proved successful so far. Set up in 2011, the co-op has raised over £14 million, and developed over 9MWp of solar and battery assets, enough to power roughly 3000 homes. The organisation is an important contributor of renewable energy in the South West, generating roughly the equivalent of 30% of Bristol's solar energy. Katharine Wilkinson, Finance Director at BEC, said: “Our mission is to invest in renewables, and cut carbon, whilst putting ownership into the hands of locals so they can feel the benefits."

The money raised will go towards a range of renewable projects in Bristol and the South West. This includes a rooftop solar array on the renowned Bristol Beacon music venue, which is currently under major refurbishment. Re-opening in 2023, Bristol Beacon aims to be the UK's first carbon neutral concert hall, providing Bristol and the South West with one of the best performance and music learning spaces in Europe. The share offer will also help fund a microgrid scheme at an affordable community housing development in Bridport, Dorset. The largest of its kind in the UK, this co-housing project will use best-in-class practices for energy efficiency and renewable energy. This avoids the need for gas boilers or fossil fuels. The share offer aims to fund solar panels and battery storage for the microgrid. It's not only BEC’s members that gain from a return on investment. Over the past 10 years, the cooperative has channelled over £300,000 of community benefit payments into local sustainability initiatives, such as community gardens, education and biodiversity programmes. Also, community spaces such as Easton Community Centre and Knowle West Media Centre have benefitted from cheaper energy rates thanks to the solar installations by BEC, meaning they have more funds to spend on their vital services.

Anyone can invest in BEC’s withdrawable shares, from as little as £100. Investors are projected to receive a 3.5% annual return. The share offer is open until 31st March 2022. For more information click here.

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