Our first community project is an existing solar farm at Newton Downs. It generates enough clean energy to power the equivalent of 2000 average homes.
The project was developed by Good Energy, a leading renewable electricity supplier, with the understanding that it would be offered for sale to Yealm Community Energy (YCE). In January 2018 Community Owned Renewable Energy LLP (CORE) acquired the project on YCE’s behalf.
Newton Downs is an excellent site for a solar farm as it is not visible from public roads or footpaths. The farmer who owns the land is also using it for sheep grazing and a biodiversity plan is being implemented, sowing native varieties of grass and wild flower seed to encourage pollinators and other wildlife.
The solar farm is also expected to generate a good level of community fund over the lifetime of the project.
A tremendous thank you to everyone who invested in YCE's share offer. The offer is now closed. YCE are delighted to have been able to secure the 3 local solar farms. What a journey this has been! We aim to complete on the purchases by the end of 2023.
£400,000 share raise milestone reached and a super testimonial from one of our investors. "YCE is an inspirational community endeavour. An initiative which will go down in the history of 'what did South Hams do to respond to the Climate Emergency?' as one of the most worthy of projects. My husband and I are investors. Proud to support a meaningful and well thought out project which aims to benefit local communities, can provide a return on investment as well as supporting ambitious renewable energy projects. I hope this is shared far and wide. Good luck to the A Team!!"
It has been an excellent Spring and Summer so far for sunshine, and the solar farms at Newton Downs and Creacombe & Marlands have been generating plenty of electricity to sell to the grid. Over the whole year they will produce the equivalent of about 4000 households, i.e. all of the houses in the 5 parishes.
We love data from our local solar farms at Creacombe and Newton Downs! 2020 gave us a production of just shy of 13 Million units of electricity. Power to the People!
The first year of operation of the Newton Downs solar farm, of which we currently own only a token share, has generated income for the community fund of £20,000. This is after payment of the fees and dividends for the current majority owners (Community Owned Renewables LLP).
We have held successful negotiations with the new owners of Newton Downs solar farm and have signed an agreement with them – Community Owned Renewable Energy LLP, to purchase a share in Newton Downs with the intention of completing the total purchase within 3 years.
CORE and Yealm Community Energy (YCE) have partnered to acquire Newton Downs solar farm, with CORE investing £5.83 million. YCE aims to secure community ownership through equity and debt finance within three years. The solar farm is set to generate £20,000 annually for a community fund and over £1 million in its 30-year lifespan.
"I do hope that you will feel inspired to join us in this exciting venture, be part of it and have a say in what we do locally."
"I believe the board have done an excellent job and that YCE has become an impressive community force.”