The Dundee Renewable Energy Society (DRES) Share Offer is now open
The share offer needs to raise £3 million to build a ground-mounted solar PV project near Dundee.
- First phase investors to get 2.5% interest from share issue until commissioning date (expected May 2024)
- Projected rate of interest then starts at 7% per annum for each of the first four years then 6% thereafter
- Minimum investment is £100
- Maximum investment is £50,000
The closing date for the first phase of this share offer is 20 December 2023. £2.46 million is needed by 20 December so contracts can be signed and timetabled work for the access to the site can be assured. The second phase will be open to 30 April 2024 to give local people in particular longer to engage.
The site is located at Bullionfield, on land owned by the James Hutton Institute, one of the UK’s major research institutes and is situated north of the A90 on the approach to Dundee from the west. The Solar Meadow will consist of 2.59 MW Solar PV panels and is anticipated to generate approximately 2,214 MWh each year. 94% of the electricity generated will be sold to the Institute.
Site work has already started, initially with tree clearance and detailed design work.
Click on the links below for full Terms & Conditions.