THURROCK Council is proud to be investing in Swindon Solar Park, one of the largest solar projects in the UK, as part of a move to diversify its income portfolio in a way which protects taxpayers’ money and gives a good return on investment.
Through Rockfire Capital, Thurrock is one of three Local Authorities, including Warrington and Newham, who have invested in the 172-acre site made up of 231,600 solar panels.
In recent years, Thurrock Council has been exploring more inventive ways of treasury management to reduce costs, increase income and help support vital services.
This project was chosen based on a number of factors, including the investment being ethical, asset-backed, supported by external advice and due diligence, as well as diversifying the borough’s portfolio – adding greater stability to council forecasts.
Thurrock Council’s Portfolio Holder for Finance, Cllr Shane Hebb, said: "Thurrock is a pro revenue generating council and this is exactly the sort of project we want to be involved with. We will continue to look for similar opportunities and invest when the advice says we will get a good return for residents.
“People in Thurrock can rest assured that not only are we looking after their money, but we are also doing our bit to help protect the environment by reducing the amount of carbon produced by burning fossil fuels."