Hackney Council is urging the public to invest in its £5million project to install solar panels on schools and council homes.
The scheme, aimed at making Hackney greener and healthier, is offering investors a fixed rate of return of 4.5% interest over a five-year term.
Cllr Robert Chapman of Hackney Council, described the Hackney Green Investment as: “an opportunity for Hackney residents to invest in projects that support our journey to net zero, while earning a secure rate of interest.”
He added: “The money local people invest will help broaden our climate program beyond what we would be able to do within the financial constraints councils are operating in.”
It’s hoped the initiative will raise an initial £500,000 in six months to fund the installation of solar panels on schools and council homes, which in turn should reduce bills for local people.
Investments can start from as little as £5 and returns on investment will be paid every six months, offering the chance to withdraw or reinvest funds as preferred. The process is being managed by Abundance Investment. A similar project was launched by Islington Council in 2021.
Local organisation Stokey Energy has been working closely with the Council over recent years, leading the local green revolution. They’ve overseen the installation of solar panels at Stoke Newington School, The Hackney Empire, the Leaside Trust outdoor pursuits centre, St John & St James Primary and St Paul’s West Church. They’re due to install solar panels at Jubilee Primary, Betty Layward Primary and The Mildmay Club this summer. Some of the projects were made possible thanks to a grant from the London Community Energy Fund.
For further information about the Council’s Green Investment fund, visit: https://www.abundanceinvestment.com/council/hackney
