Plymouth Energy Community, a co-operative, set up PEC Renewables to develop renewable energy projects, targeting returns of 6 per cent for investors.
The projected gains are even higher, at 9.4 per cent, for those who access PEC Renewables through an enterprise investment scheme.
The share offer is aiming to raise £500,000 by 6 May to allow free solar panels to be installed on more than 20 schools and community buildings.
It has already received a loan worth £500,000 from Plymouth city council, the first time a council has backed such a scheme.
Installation work will begin this month and has the long-term aim of producing £900,000 in surplus income over 20 years to invest in energy-saving projects.
Dave Garland, director of PEC, said: “As a result of the phenomenal support we are receiving, installations will start in the Easter holidays on the first six local primary schools, providing them with the immediate benefits of a low-cost energy supply and valuable educational resource in the summer term.”
The scheme requires a minimum initial investment of £50.
Adviser view
Olivia Bowen, director of Manchester-based ethical advisory firm Gaeia, said: “The income here is underwritten by the government and tax relief is an attractive incentive, but investors must only put money in that they can afford to lose given the risks, and it should be viewed as only a potential source of income in the long term.”
