South Hams District Council is changing its investment rules to fight climate change.
The council has revised its commercial investment strategy to invest in renewable energy projects outside its boundaries.
It wants to invest in two ‘shovel-ready’ solar farms which would deliver significant benefits but were outside the area.
Chris Brook, head of assets practice, said: “This will deliver the multiple benefits of an attractive investor return, is directly linked to tackling climate change targets and the authority’s low carbon agenda, providing a hedge against forward energy price rises and the opportunity to generate enhanced financial returns in the future.”
