Maidenhead's MaidEnergy launches share offer for secondary school solar project

By Tom Kilkelly

22 May 2023

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Partonez, CC BY-SA 4.0 , via Wikimedia Commons

Volunteer-led renewable energy organization MaidEnergy, based in Maidenhead, has launched a new low carbon share offer for a solar project at Maidenhead Senior School Furze Platt.

The not-for-profit company's share offer will involve the installation of 240kW of solar PV on the school roof, adding to the 35kW installed in 2020. The work will mean the school is provided with a long-term renewable energy supply.

Funds will be secured through a six week investment period in which the share offer is made available to local investors. The offer means investors can purchase shares for one pound each - with 280,000 shares available in total. Annual return on said shares is expected to be 5 per cent.

When funding is secured the project will be launched with a return on investment to investors - surplus funds will go towards MaidEnergy's next project. Climate Partnership CIC has agreed to provide £40,000 to underwrite the development of large scale solar in the Royal Borough of Windsor & Maidenhead (RBWM).

Furze Platt Senior School will receive a donation of shares in MaidEnergy. On top of this MaidEnergy has agreed to donate the panels to the site in 15 years. Income will be earned from electricity generated by the solar panels, 70 per cent of which are being sold to the school with the rest of the panels exported to the grid. MaidEnergy is also charging Furze Platt 40 per cent less than the current grid energy price.

Local resident and Co-Chair of MaidEnergy Richard Taylor said: “It’s wonderful to be returning to Furze Platt Senior School for another solar project, our biggest one so far. We need more clean energy in the climate emergency, and we love helping schools in our area to cut their emissions and their bills at once.''

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.