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NSW Government grant supports community-owned solar

Clean Energy For Eternity / Clear Sky Solar have raised $478,000 through community investment and installed 335 kW of solar energy capacity on 11 sites throughout NSW with a further 100 kW in the pipeline.

In 2013 Clean Energy For Eternity (CEFE) were awarded $58,000 in the form of a Community Renewable Energy Grant from the NSW Government.

CEFE used the grant to set up a not-for-profit corporation – a community-based Renewable Energy Services Companies (RESCo) called Clear Sky Solar- that can accept investment from community members and enter into contracts with building owners/ occupiers for the sale of electricity generated by solar PV installations it owns.

Under the grant, necessary legal, financial and accounting/ taxation advice was received in developing appropriate governance structures, business model, prospectus for investors.

Clear Sky Solar and Clean Energy For Eternity show the power of value adding which emerges from State Grant funding for renewable energy development.

Source: NSW Office of Environment & Heritage

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