Residents living near a Paddock Wood solar farm have the chance to invest in the business after a scheme was launched this week.

The £5.8million initiative will allow people to purchase £60 five-year bonds in the Knells Farm operation — which the company behind the construction, Luminous Energy, claim will produce enough energy to power 2,760 homes per year.

Big60Million, who are managing the investment opportunity, will reserve 10% of the total bonds for six weeks for businesses and homeowners living within 10 miles of the 67-acre Pearsons Green Road site.

It is estimated that by 2020 the bonds will have generated £170,000 in interest for the local community.

The power plant, which will save 4,100 tonnes of CO2 every year, was given the go ahead in December, with construction starting on the 90,000 panels in January.

The farm, which will be in place for 25 years, was connected to the National Grid last month.

More details of how to invest can be found at www.big60million.co.uk.