12 Feb 2024
£1 million investment into 1MW community-owned wind project in the West Country
We’ve invested £1 million into two 500KW community-owned wind turbines in Gloucestershire.
The refinancing loan along with a loan from Energy Prospects Co-operative will enable community benefit society, Resilient Energy Forest of Dean (REFD), to retain ownership of the project. Energy4All, who currently manage 33 renewable energy co-operatives, will support REFD as the commercial manager of the project.
As well as providing clean electricity to the grid, funding from revenues generated will continue to support local community projects in the Forest of Dean. So far, a wide range of local community buildings and schools have benefitted as a result.
The addition of this project to Thrive’s portfolio brings the total we have invested in community projects to £17 million. It is the 6th community funding bridge we have facilitated, plugging funding gaps to enable community energy groups to build and operate their own clean energy projects. This includes providing a £4 million to fund the construction of England’s largest onshore wind turbine in Bristol, which is owned by a community group.
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