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BY KATIE - MYGREENPOD, 13th Sept '14
TRILLION FUND TO CROWDSOURCE INVESTMENT IN GOOD ENERGY’S SOLAR PROJECTS
On Monday, Trillion Fund hosted a party during which guests were invited to invest in renewable energy projects.
Guests were asked to put money into Good Energy‘s solar farms in the South West of England, and to expect a return on their investment. More information on the crowdfunding offer is expected over the next few weeks, but most of Trillion Fund’s projects promise returns of 6-7%.
Good Energy proposes tidal power — are tidal lagoons the answer?
Good Energy’s is one of a number of renewable energy projects using Trillion Fund to crowdsource investment and funds, under the tag line ‘Everyone can profit from renewable energy.’
The website was founded in 2011 with the aim to raise a trillion dollars of crowd-sourced investment to finance renewable energy developments all over the world.
The platform was set up by a group of developers, asset managers, energy boffins, tech geeks, journalists and campaigners. The aim was to allow people to do something important — ‘but still profitable’ — with their money, and to generate more clean energy while they were at it.
The platform lets you cut out the middle man and go direct; you can make your own financial decisions based on transparent information, without being steered by brokers or financial advisers.
You can also choose how you want to invest: projects can be backed through peer-to-project loans, bonds, debentures or shares in a local co-operative or fund.
The first peer-to-peer loan to raise money on Trillion Fund closed six weeks ahead of its September 30 end date and was over-subscribed, raising £1.25 million from 256 lenders.
‘If it says it is going to a solar farm in Kent, that’s where it is going.’
Returns through Good Energy
Speaking at the launch party, Juliet Davenport, founder and CEO of Good Energy, said, ‘Crowdfunding has revolutionised the way we think about raising funds for renewables projects and is something that is new to us at Good Energy.
‘The beauty of renewable energy is that, because of the size of the projects, they lend themselves well to crowdfunding – it’s not likely you’ll see any crowd funding for fossil projects! It gives ordinary people and investors the chance to get a financial return whilst helping the UK to generate more cleaner, greener renewable energy.’
Vivienne Westwood invests
Vivienne Westwood, our favourite fashion designer, became a major shareholder in Trillion Fund in June, and has reportedly invested £1m in the company.
At the time, she said, ‘If we want a sound economy we have to have a sound environment. What’s good for the planet is good for the economy. What’s bad for the planet is bad for the economy.
‘People are changing their way of life. They are concerned about the planet but they do not know what to do. Investing is one thing they will be able to do.
‘Trillion Fund will allow the general public to get a return and help the planet. It is a way to get everyone involved.’
Good Energy aims to produce 50% of its own power from renewable sites by 2016. Investment will help the firm provide clean 100% renewable power to the grid and will go towards financing solar farms around the UK.
Good Energy supplies renewable electricity to Vivienne Westwood’s UK retail stores and office buildings.
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