Senior councillors have greenlit a £20,000 grant to advance a proposed £1.9million 'green energy' project in East Lancashire.
Hyndburn Council's cabinet has sanctioned the payment to Prospects Community Energy Limited ("PCE") to back the Solar Meadow Project at Coach Road in Oswaldtwistle, a community renewable energy initiative aimed at achieving net zero in the borough.
This grant supplements a previous £25,000 contribution from the authority's Net Zero Working Group.
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In a report presented to the cabinet meeting last week, Cllr Ethan Rawcliffe, the People and Communities chief of Hyndburn Council, said: "PCE intend that the Solar Meadow project will generate up to two megawatts of electricity, equivalent to the needs of about 550 houses, and will help to reduce carbon emissions by replacing fossil fuels with renewable energy.
"PCE is an independent community benefit society established by the PROSPECTS Foundation to develop, own and operate the solar meadow project on the Foundation's 11-acre site at Coach Road in Oswaldtwistle.
"The Foundation, a registered charity and company limited by guarantee, will lease the site to PCE. It is understood the lease will be completed shortly.
"In January 2024, PCE received an initial grant of £25,000 from the Net Zero Working Group to assist with the cost of a planning application for the proposed solar panels.
"Planning permission was granted, subject to conditions, on June 12 2024 and project development activity has continued since then.
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"PCE have reached agreement with William Blythe Limited for the purchase of energy generated at the site, with any surplus being sold via the national energy network.
"PCE have now requested a further grant of £20,000 from the council to help them to progress delivery of the project."
Cllr Rawcliffe said the additional funding would be used "to meet PCE's legal costs, technical costs and easement fees in respect of the lease of the Coach Road site and meet development costs, such as costs and expenses relating to due diligence and statutory procedures."
He added: "PCE are trying to raise £1.9million – 50 per cent through a community share offer and 50 per cent from ethical investors – to cover entire cost of construction of the project.
"PCE have appointed a co-operative society called Sharenergy Co-operative Limited (specialists in supporting community energy schemes) who will be project managing the community share offer, hopefully this autumn, with construction of the solar panels planned for 2026 in respect of the Coach Road site.
"The community shares will be offered widely (nationally) and PCE hope there will be a substantial local take-up."