Major retailer Marks and Spencer (M&S) has launched a new community energy scheme with renewable organisation Energy4All.

The M&S Energy Society encourages members to invest between £100 and £100,000 to install solar panels on nine M&S stores, with a targeted interest rate of 5%.

The initiative is part of the company's green energy pledge to ensure 50% of its electricity comes from small-scale renewable resources by 2020.

-- Advertisement --

Lydia Hopton, Plan A Project Manager at M&S said: "This project is a great opportunity for customers to invest in green energy and help the environment, while also supporting local community groups. We're really excited that M&S will be the first retailer to launch a scheme of this kind."

Mike Smyth, Chair of Energy4All, added: "There's a real appetite for community energy funds. With community energy, investors can see the tangible difference their investment makes. Every pound invested means more solar panels, increasing renewable energy generation and cutting carbon emissions every day."

(LM)