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Community-owned solar power station opens up share offer

Posted by Cathy Debenham on 2 May 2011 at 9:59 am

Lewes-based energy services company, Ovesco, has raised three quarters of the £307,000 it needs to build the UK's first community owned solar power station

So far, virtually all the pledges and investments have come from local people. However, as they are racing to get the panels ordered and installed before the government's cuts to the feed-in tariff come into force in August, they have opened up the investment opportunity.

"We urgently need to turn as many pledges as possible into investments before the 9th May for the project to go ahead," said a spokesman. "If you have pledged but not yet sent your cheque, please do so now. If you would like to find out more or invest please visit the Ovesco website.

"The 9th May is when we need to place an order for the PV panels and need to secure at least £255,000 (of the total £307,000) to do this. We are happy to take investment from anyone living in the UK."

There will be an opportunity for local people to ask the directors any questions they may still have on Wednesday this week, between 7 and 9pm at the Linklater Pavilion. Frequently-asked questions include 'Can I invest on behalf of my children?' 'Can I get tax relief on my investment?' The answer to both is 'Yes.'

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