Ripple Energy has today (17 April) announced that the first co-owned solar farm – a 42MW site – will be built in Devon.
The announcement follows the company revealing it was planning to build its third co-owned site at the beginning of March.
Derril Water Solar Park was sold to a Ripple managed co-operative by the renewable energy developer RES and is located roughly 1.2km away from Pyworthy.
The project will allow consumers to purchase a share of the solar farm and receive discounts on their energy bills according to the amount of renewable energy produced by their share.
Ripple has predicted co-ownership could save members an estimated £783 on their electricity bills this year.
Having already received 16,000 reservations during the site’s seven-day purchase window, Ripple Energy has confirmed it is ringfencing 10% of Derril Water Solar Park exclusively for those living locally.
From tomorrow (Tuesday 18 April) locals will be given a two-week exclusive access window to buy shares from the ringfenced portion of the project.
The remaining 90% of the site will be open to people across Britain.