Renewable Energy : Community solar farm and battery, Gundungurra lands
Goulburn Community Energy Cooperative are currently constructing a 1.8MW (AC) solar farm plus 2.85 MWh battery on a previously contaminated site on Bridge Street, Goulburn, NSW.
They are anticipating a shortfall of funds of up to $200,000 due to variations in construction costs which they will need to seek loans for so CORENA is helping out! CORENA supports community energy projects such as this one, where the benefits of the renewable energy transition go to those in the local community. Our zero interest loans provide savings and certainty for projects such as these particularly in an environment where the wholesale electricity market is difficult to predict.
Community Energy 4 Goulburn (CE4G) has been the driving force behind building a community owned solar farm in Goulburn since late 2014. The Goulburn Community Energy Cooperative was established by CE4G in 2020 after research to find a suitable financial and governance entity that would best suit the ownership and operation of the solar farm. The Cooperative has over 300 members, over 80% of whom are local people who want to see more action on climate change. A minimum investment of $400 makes it very accessible for the community to participate. On project commencement, a fund will distribute a percentage of the profits for energy poor residents.
Existing funding has come from a NSW Government Grant ($2.3M) and Shares raised from community investors ($2.7M).
As our loans increase in size due to the revolving energy fund it is exciting to be able to support larger projects like this one. We hope to raise $100,000 (combined with loan repayments) to support this project. However, this will only partly fund the loan Goulburn Community Energy Cooperative needs, so if we are able to fundraise more we may decide to increase our target (depending on the needs of other pending projects).
Website: https://goulburnsolarfarm.com.au/
We are currently fundraising for this project.
Loan details
Loan target: $100,000
Loan repayments: $8,333/quarter
Status: Fundraising
Installation date: Construction commenced
Work Details
Community solar farm 1.8MW (AC) plus 2.85 MWh battery
“Partnering with CORENA will give a significant boost to the project. While we have been overwhelmed with support from the local community, the project still needs further assistance due to the increasing costs since its inception 10 years ago. A loan from CORENA would help immeasurably.”
Andrew Bray, Chair, Goulburn Community Energy Cooperative