By Beth McAllister, Low Carbon Hub
We are thrilled to announce that the latest round of the Community Energy Fund raised £726,650 in investment to support community energy in Oxfordshire. We’d like to say a huge thank you to everyone who chose to invest in us and put their money to work tackling climate change.
In addition to investment raised through previous rounds, this brings total investment in the portfolio so far to £1.5 million.
This is fantastic news for community energy and to further our aim to meet our energy needs in a way that’s good for people, and good for the planet.
Investment in the Community Energy Fund will enable us to fund the installation of solar PV arrays on a range of sites this spring and summer. One new school PV array is already up and running at Brookside Primary School in Bicester, meeting almost 30% of the school’s energy needs. We look forward to working with other schools and organisations to help them cut their carbon emissions and reduce their energy bills.
It will also enable us to repay the short-term debt to Oxford City Council that was used to fund our Solar 2016 portfolio. This will bring these renewable energy projects more into community ownership.
We’re also thrilled to report that this latest share offer increases our membership to over a thousand people who have chosen to invest in us.
We look forward to sharing news with all of our Members on how their money is being put to work. We report on the social and environmental impacts of our projects in our annual Social Impact Report and detail their financial performance in our Portfolio Performance Summaries. Keep an eye out for these over the next few months.
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This article first appeared on the Low Carbon Hub website on 19th March 2019.