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Co-op releases £1m for renewable projects

The Co-operative Group has announced the availability of a £1m pot to support community-owned renewable energy projects across the country.

The group’s Enterprise Hub, which supports the creation and growth of sustainable member-owned enterprises, has marked the money to increase the number of energy schemes.

Through its enterprise development, mentoring, technical advice and the underwriting of community share issues, the Hub seeks to inspire more communities to set up their own energy schemes, enabling them to do more to tackle climate change.

Michael Fairclough, head of community and co-operative investment at the Co-op, said: “The investment is designed to support and encourage co-operatively owned renewable energy projects - providing the tools to create the next generation of sustainable community co-operatives that can control, generate and benefit from their own renewable energy.”

“Ambitious community-led projects can contribute to a step-change in people’s thinking about energy and, inspire others to take action - a catalyst for a clean energy revolution across the UK.”

The group has so far pledged £6m between 2012-14 to its Enterprise Hub.