Community solar group calls for final investors as deadline approaches

Rossendale Valley Energy (RVE) is calling on individuals and businesses to get involved in its ambitious new solar project before the window of opportunity closes.

With just two weeks left until the share offer closes on 31 July, there is still the opportunity to purchase shares towards the £350,000 needed to fund the installation of nearly 900 solar panels on the roof of the Interfloor factory in Haslingden.

Investors can purchase shares from as little as £100, up to a maximum of £35,000, with a target annual interest rate of six per cent and a 20-year term.

As well as being an ethical investment, this is a great opportunity for individuals wanting to invest for the long-term future of their children or grandchildren.

By setting aside the capital and reinvesting the return, it’s possible to build a useful nest egg over the life of the scheme. Investments in this project will likely be exempt from inheritance tax, which offers an additional financial benefit for future generations.

Businesses can now also invest up to £35,000, providing a valuable investment management opportunity – and a practical demonstration of their corporate social responsibility (CSR). 

The 882-panel array is expected to generate 368 MWh of clean electricity every year – enough to power around 120 homes annually. Around 85 per cent of this will be used directly by Interfloor, one of Rossendale’s largest manufacturers, helping them cut energy costs and reduce reliance on fossil fuels.

Kate Gilmartin, chair of Rossendale Valley Energy, said: “We’re urging anyone thinking about getting involved to act now – there are just a couple of weeks left before the offer closes.

“This is a unique opportunity to own part of a local renewable energy scheme that supports the community, the planet, and provides a fair financial return. We’re hoping the people and businesses of Rossendale will help us reach our target by the end of July.”

Gary McEwan, managing director of Interfloor, added: “Partnering with RVE aligns perfectly with our sustainability goals. It’s a great opportunity to reduce our carbon footprint while making a positive contribution to the local community.”

In addition to supplying clean electricity, the project will deliver an estimated £250,000 in community benefit over its lifetime, supporting RVE’s broader initiatives such as energy advice and low-carbon heating solutions.

All shareholders will become members of the RVE Community Benefit Society with voting rights. The array will be owned and managed by the RVE team on behalf of its members, with a long-term lease and Power Purchase Agreement already in place with Interfloor.

To find out more or apply to invest, visit: https://rvenergy.org.uk/projects/rve-solar or contact Sharenergy at [email protected]. Shares are available on a first-come, first-served basis and refunds will be issued if the offer is oversubscribed.