Yealm Community Energy (YCE), a Community Benefit Society (BenCom) based in the South Hams parishes of Brixton, Holbeton, Newton Ferrers and Noss Mayo, Wembury and Yealmpton, is today (July 31) launching a community share offer to fund the transfer of three nearby operational solar farms into community ownership.

 The share offer will enable local people who care about climate change to put their money to work to tackle the issue directly, earn a fair return on their investment, and greatly increase the solar farms’ economic contribution to the local area. The three solar farms are Newton Downs near Newton Ferrers, and Creacombe and Marlands, near Holbeton. They have all been successfully operating since 2020 and collectively supply enough electricity for the equivalent 4,450 average homes - all the homes in the five parishes - and will save over 130,000 tonnes of carbon over their lifetimes.Peter Brown, Chair, Yealm Community Energy, said: “As a community enterprise with a strong track record in tackling climate change and supporting local carbon reducing and environmental initiatives, we are very pleased to offer local people a chance to invest in YCE and enable us to take ownership of three successful solar farms in South Devon. Most importantly, every £1 you invest will result in about £10 of community benefit.”Since its involvement with the first solar project (Newton Downs) in 2018, YCE has distributed £100,000 in community benefit grants from the solar farms’ financial surpluses to 47 local projects in the five parishes. Under full community ownership, the total community fund pot is expected to increase substantially to around £8 million over the 27-year remaining lifetime of the projects. YCE estimates that 1 in 10 of local residents have benefited from the solar farms’ community funding so far. Projects supported include:●      Energy-saving advice and measures to improve energy efficiency and tackle fuel poverty●      Environmental education and enhancements such as new tree planting and establishing wildlife corridors●      Support for the innovative community-owned electric ferry across the Yealm estuary●      Biodiversity enhancements for Brixton and Yealmpton and local schoolsDaniel Brown, Former Head Teacher, Newton Ferrers Primary School, said: “With fantastic support given by Yealm Community Energy, we were able to part fund an outdoor classroom and woodland pond that have been fantastic teaching aids for our biology and woodland ecology lessons.” Richard Robinson, Director, Yealm Community Electric Transport, said: “We are extremely grateful to Yealm Community Energy for having the vision and understanding to support this pioneering project.”All three solar farms are performing above their predicted generation. They were developed on moderate quality farmland (Grade 3b). The land is being managed through sheep grazing at Newton Downs, while the intention is to introduce sheep grazing at Creacombe and Marlands in future. Each has a Landscape and Ecological Management Plan; at Creacombe and Marlands, wildflowers have been sown throughout the site through the use of green hay sourced from elsewhere on the landowner’s estate. The share offer is being launched on positive investment platform Ethex with a target annual return of 6%. The minimum investment is just £250 and the total fund raise target is £860,000. Funds raised above this amount will help to increase the Community Benefit Funds available. Shareholders will become a member of Yealm Community Energy on a one vote per shareholder basis.This share offer is particularly innovative as YCE is part of a partnership with four other like-minded BenComs in England and Wales called Community Energy Together (CET). Three others are launching their share offers today with similar terms, with the fourth following shortly. CET aims to raise £2.5 million to bring seven solar farms into community ownership and generate a collective community benefit fund of £20 million over the solar farms’ lifetime.Peter Brown added: “As part of CET, YCE is part of a larger, supportive family, working together to get the best out of all our projects and maximising the surpluses we can devote to community benefits. We’re proud of the role that our bit of South Devon is playing in the community energy revolution, democratising energy ownership and ensuring profits from the solar farms are retained within the local area.” Emma Bridge, Chief Executive of Community Energy England, said: “The simultaneous  launch of these CET share offers marks a significant milestone for community energy. Raising £2.5 million from community investors to create community benefits of c.£20 million demonstrates the immense potential of the sector. Local ownership of our green energy infrastructure is vital for engaging people with the changes we must make to get to net zero.”The share offer will be open until 27 October 2023 but may close earlier if fully subscribed.To download the Share Offer Documents and invest, please visit: https://www.ethex.org.uk/invest/yceTo find out more about YCE please visit their website: https://www.yealmenergy.co.uk/