New community energy scheme launched in Frome

Story posted on May 5, 2015

Mayor of Frome, Peter Macfadyen

An exciting project to bring renewable energy to Frome has been launched – and you can be part of it.

An investment scheme with a difference will be launched in the town this month when the Frome Renewable Energy Co-op (FRECo) begins its first community-owned solar project.

FRECo is a new energy co-op that will enable the community to invest in renewable energy projects in the town.

And from Thursday 14th May local residents will be able to back FRECo’s first projects – a new solar powered community stand for Frome Football Club and 150kw of solar panels on Frome Medical Practice’s roofs.

Anna Francis, chair of FRECo said, “By becoming founder members and investing in community-owned clean energy, investors could not only get a good return on their money, but will be helping to combat climate change and start Frome on the road to energy self-sufficiency.

“As well as cutting carbon we aim to pay investors a 6% return on investment and tax breaks under the Enterprise Investment Scheme.

“All surplus profits will go into a community fund to support other local carbon cutting projects.”

The share offer aims to raise £300,000 and will be open for contributions until the 26th June.

Potential investors are invited to the launch at Frome Football Club on 14th May at 7pm. Mini-launches will also be held at Frome Medical Practice on 3rd June, and Cheese and Grain on the 10th June as the projects progress.

For more information visit www.freco.org or call 01373 475574.