Factory harnesses power of the sun

A SERVICE provider for renewable energy has launched an ambitious new solar project aiming to install a solar panel system on the roof of a factory.

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Rossendale Valley Energy (RVE) offers residents the opportunity to own a piece of a major renewable energy initiative in the region.

They have launched the Rossendale Valley Energy Solar share offer, aiming to raise £350,000 to install a rooftop solar photovoltaic (PV) array at the Interfloor factory in Haslingden.

Interfloor are Europe's largest manufacturer of carpet underlays and have been part of the Lancashire business community for nearly a century.

Investors can purchase shares from £100, up to a maximum of £35,000, with a target annual interest rate of 6%.

The group hope this will make the offer accessible to a wide range of residents in Rossendale and beyond.

The project is the result of a 25 year agreement between Interfloor and RVE, with a 20-year repayment plan for share capital.