The £50,000 investment has been drawn from the King’s Cross Carbon Fund, which was established by KCCLP to support the delivery of carbon reducPon projects at King’s Cross and the surrounding area.

Once up and running, the solar arrays will save a total of 30.5 tonnes of CO2 a year, equivalent to the carbon absorbed by 1,400 trees, and will result in cheaper electricity for both schools.

Jamie Quinn, sustainability director at King’s Cross, said: “We are pleased to support PUNL and our local community as we work alongside colleagues in Camden Council to idenPfy and fund projects that will deliver ongoing reducPons in carbon emissions. The King’s Cross Carbon fund is available to carbon reducPon projects both on and around the King’s Cross estate and they must meet certain criteria to be eligible for funding. PUNL’s commitment to reducing fossil fuel consumpPon through the installaPon of more than 200 solar panels is exactly the sort of project we look to fund and we are excited not just to see both schools reduce their energy consumpPon and bills, but to eliminate so much CO2 from the atmosphere at the same Pme.”

The £50,000 investment from KCCLP brings the total amount raised so far to £131,680. This includes around £60,000 from community investors and £20,000 from Somers Town Community Sports Centre. In addiPon to the £130,000itraisedfromtheshareoffer,PUNLhasalsoreceived£75,000infunding: £50,000fromCamden Council’s Camden Climate Fund, and £25,000 from the Mayor of London’s Somers Town Future Neighbourhoods pioneering iniPaPve.

PUNL’s Chair and lead for the project, Anna Woodeson welcomed this significant investment: “For the past nine years, PUNL has been working closely with local communiPes to help them embrace green energy and become less dependent on fossil fuels. This generous investment from the King’s Cross Carbon Fund will fund the installaPon of over 200 solar panels at Regent High, resulPng in cleaner energy as well as cheaper electricity bills.”

Under the terms of PUNL’s solar schools share offer, individual and business investors will receive their original investment back annually over 20 years, plus a projected annual interest rate of 4%. The offer is now closed, with the installation planned for the summer holidays.

Under the terms of the £50,000 investment by the King’s Cross Carbon Fund, the shares and interest will be donated back to Regent High School.

Power Up North London: This is PUNL’s eleventh and largest solar project to date. Since first being set up in 2015, the volunteer-led community interest group has installed solar arrays on several community buildings, mainly in Camden. These have included three other schools, a GP pracPce and most recently Talacre Sports Centre in KenPsh Town which was also funded by a community share offer. More information about PUNL can be found at our website.

Media contacts:

Power Up North London: Felicitas Dietze or Rita Monjardino, [email protected] Related Argent/King’s Cross: Lucy Doyle [email protected]
Camden Council: [email protected]