09 May 2017
Thrive bridges £1.7 million funding gap to support community solar ownership
Uniting in a common goal to transform the way energy is owned, generated and sold in the UK, Thrive Renewables has invested, for the first time, in solar by way of supporting a Mongoose Energy initiative with a £1.7M mezzanine loan that will enable Shropshire residents to invest directly in local renewable energy.
Banks typically lend 70%-80% of project capital costs with developers or communities still needing to find the remaining 20%-30%. Thrive Renewables has provided the essential £1.7M to enable the community group managed by Mongoose Energy to acquire a solar project in Sheriffhales in Shropshire. Over the coming months, the community will be invited to get involved and invest in the 3.1MWp solar farm and establish a rewarding connection with the site.
With over 6,300 investors in Thrive, the company funds sustainable projects all over the UK to create genuine, long-term, positive impact – financially, environmentally and socially.
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