Plans to offer residents the opportunity to co-invest in a community solar farm have been approved by the Council’s Cabinet, which will pave the way for a 1,300m long sound barrier along a stretch of the A419.
The solar bond will help fund a new solar farm on a Council-owned former landfill site at Chapel Farm in Blunsdon, and will be the first in the UK to allow investors use the new Innovative Finance ISA (IFISA) to give them a tax-free return on their money.
Some of the profits from the solar farm will be channelled towards community initiatives, while the business rate and rental income to the Council from the solar farm will be used to fund the A419 sound barrier.
The A419 sound barrier will increase the quality of life for hundreds of families who live along a road which is predicted to see an increase in traffic of 28% by 2028. For more information about the solar bond click here.