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Camden Council is working with Power Up North London on a project to install solar panels on the roof of Talacre Community Sports Centre.
The electricity produced will help to reduce energy bills on the site, operated by Greenwich Leisure Limited, for the next 20 years.
Power Up North London’s community share offer is available to everyone, regardless of if they live in Camden, and is seeking to raise £80,000. Following a minimum investment of £250 (maximum investment £5000), all investors will then receive 5% of their initial investment made each year over a period of 20 years, plus an annual 4% interest on the remaining balance.
The share offer will remain open until the 20 March 2023, unless the target amount is reached at an earlier date, or Power Up North London extend the time to reach the target.
Councillor Adam Harrison, Cabinet member for a Sustainable Camden, said:
Tackling the climate emergency is a priority in Camden. We have committed to do all that we can to make Camden a zero-carbon borough by 2030 and declared a climate emergency in 2019.
This however is an ambitious target that we will not be able to achieve alone, therefore partnerships like this with Power Up North London, will be vital in helping us achieve our goals.
This scheme is similar in approach to the council’s successful Camden Climate Investment which raised money to directly fund a range of local climate projects that are part of the Camden Climate Action Plan.
If fundraising through the share offer is successful, Power Up North London will own and operate the solar array and provide the power it produces to the sports centre at a discounted rate compared to the national grid. This will save approximately 12 tonnes CO2 annually, further helping to support the aims of our Climate Action Plan.
Dr Jo Macrae, OBE, Power Up North London’s chair and Kentish Town resident, said:
This project is exciting because it enables people in Camden to take meaningful action over the energy and environmental crises. Power Up North London is quite literally giving power to the people to create a greener, fairer Camden, while helping local services at such a difficult time.
