THE sun was shining as two leaders unveiled their new plans for an Oxfordshire solar network.
Oxford City Council deputy leader Ed Turner and Barbara Hammond, chief executive of Low Carbon Hub, said a £2.3m council loan will power a new generation of solar roof panels on to 25 schools and business buildings this summer.
And residents will be given the opportunity to buy shares in the project and receive a cut of money made from electricity generated and sold.
The first share offering, expected in September, will be the first of many, expected to come every six months, the pair said.
Ms Hammond said: “The first share offer will be for a specific set of projects, which we will bunch together.
“We would be aiming to make a new share offer every six months, so people get used to investing their money in this way.”
The contract Low Carbon Hub has with the city council lasts three years, with money from the £2.3m pot being released for projects in stages.
It has said it will repay the city council the money, plus an additional £33,000 – a return of about 1.4 per cent.
Ed Turner, the deputy leader of the council, said: “This is a good investment that will reduce the carbon footprint of Oxfordshire.”
- Our top stories
10:01am Sunday 21st December 2014
FIREFIGHTERS were able to stop a roof fire spreading and destroying the rest of the house last night.
6:00am Tuesday 9th December 2014
December is Advent Calendar time and we have a special new interactive graphic for you each and every day until Christmas Eve. I've chosen the best 24 pictures of 2014 and I'll be unveiling one a day - so what is behind's today's door?
9:00am Saturday 20th December 2014
LOOM bands are taking over the house of Skye Hall’s family as they prepare to spend their first Christmas without the brave youngster who died in August.
8:30am Saturday 20th December 2014
OXFORDSHIRE County Council leader Ian Hudspeth has backed councillors Rodney Rose and Kevin Bulmer who asked a voter to reveal his wages when he challenged them over a 19 per cent hike in their allowance.
5:24pm Saturday 20th December 2014
Two teenagers from Witney were arrested last night after a man suffered a broken arm.
2:23pm Saturday 20th December 2014
OXFAM has said it accepts criticism from charity regulators over an alleged “party political” tweet about a “perfect storm” of poverty.