Last Tuesday night (13 October), Lismore City Council* approved the borrowing of $360,000 in total from Farming the Sun – Lismore Community Solar!
This represents a very significant milestone for the project. These loans ($180,000 each) are the central legal agreement between Lismore City Council and each of the Community Solar companies. Each loan will fund a 100kW solar farm ~ one at each of Goonellabah Sports & Aquatic Centre and the Wyrallabah Sewage Treatment Plant. Any surplus funds ~ noting that the actual cost for each solar farms will be determined by an open public tender ~ are to be applied projects identified in the Lismore City Council Renewable Energy Master Plan (REMP).
We would like acknowledge the significant ‘behind the scenes’ support and work by Farming the Sun project collaborators ~ particularly Lismore City Council, Embark Australia and Norton Rose Fulbright ~ in putting these mutually beneficial loan agreements together.
Finalising negotiations on the loan terms, particularly the interest rate and repayment schedule, took longer than anticipated to finalise. It had become evident that the interest rate needed to be lowered to be competitive with the soft economic conditions and market.
The Farming the Sun team are now updating and finalising the Offer Document for interested investors. Please sign the ‘pledge’ if you are interested to find out more when the offer becomes available. As at today 106 people have signed to express their interest.
Local Green Globe Winners!
The NSW Government Green Globe Awards are the leading environmental awards in NSW and celebrate environmental excellence, leadership and innovation.
Congratulations go to our project partner, Lismore City Council, for taking out two awards ~ Regional Sustainability and Local Government Sustainability ~ for their community consultative process and responsive sustainability initiatives, including: Lismore Community Solar, materials recovery facility processing and landfill rehabilitation (phytocapping).
Congratulations also to Brookfarm in Byron Bay, being the overall winners of the The Premiers Award for Excellence. Brookfarm produce gourmet macadamia products for local and export markets and were awarded for: their large solar power array (which was installed by solar specialist and Farming the Sun partner Juno Energy); water saving; rainforest regeneration program; waste reduction; and pioneering of biological controls in macadamia farming which have eradicated or dramatically reduced chemical, pesticide and synthetic fertiliser use.
Check out Brookfarm’s solar power array in this fly-over video.
For more details regarding the Green Globe Awards and winners, please visit: our-region-a-winner-at-green-globe-award.