Ripple Energy said today that a solar project of up to 42 MW at Derril Water in Devon will become Britain’s first shared solar park.
A Ripple managed co-operative has agreed to acquire the consented project from its developer, the UK-based global renewables firm RES.
Ripple has demonstrated the new ownership model with two consumer-owned wind farms in Wales and Scotland. It said that almost 20,000 people in Britain have already reserved a place in its third project, the Derril Water Solar Park. The public will be able to buy shares from April 26.
According to the announcement, members of Ripple’s first project have achieved average savings of over GBP 300 (USD 375/EUR 341) each in the first year, with the sum expected to increase to GBP 977 this year.
“Bringing Ripple on board at Derril Water offers a new way for consumers to share in the benefits of renewable energy and play a part in fighting climate change,” commented Lucy Whitford, RES’ managing director for the UK and Ireland.
(GBP 1 = USD 1.251/EUR 1.136)