Investing in renewable energy generation and EV charging. This project will be delivered in collaboration with Beckery Village businesses, community organisations and landowners.
Towns Fund: £2.8m
Co-Funding: £1.06m raised through a share/bond offer and paying 4% interest per annum
Key project themes:
Tackle Climate Change
Grow the Economy
Addresses the Climate Emergency declared by Mendip District and Glastonbury Town Councils.
Delivers clean energy to other projects in the TIP and the Town.
Helps small businesses and households to become more sustainable.
Generates ongoing community income.
This project will make a vital contribution to realising Glastonbury Town Council’s goal for Glastonbury to become carbon neutral by 2030. Through investment in clean growth, it will enable the Town’s sustainable economic regeneration by creating new self-financing green jobs, and providing competitively priced, low carbon energy.
The project will be delivered by Avalon Community Energy (ACE) in collaboration with Beckery Village businesses, community organisations and landowners. We estimate this would save 1,130 tonnes of carbon per year and yield an annual revenue surplus of £200k. Over the 30-year life of the installations, this would total 34k tonnes of carbon saved and up to £6 million revenue surplus, i.e.: 1.5 times the value of the initial investment. The purposes for which the annual surpluses are applied would be determined in collaboration with stakeholders through a governance arrangement which would be mutually agreed with Beckery Village and Town Council stakeholders.
Clean energy available to businesses and town
The project supports progress to zero carbon and net profits are available to town for other projects
Lead organisation: Avalon Clean Energy (ACE)