£4m boost for community energy in Bristol

Bristol Energy Co-operative has signed agreements worth £3.95 million for community energy projects. That takes the total amount raised since its November launch to £9 million. The new wave of […]

Register now!

By Priyanka Shrestha

Bristol Energy Co-operative has signed agreements worth £3.95 million for community energy projects.

That takes the total amount raised since its November launch to £9 million.

The new wave of finance comes from Triodos Bank, Bristol City Council and Social and Sustainable Capital and will be used specifically to fund the construction of the 4.2MW Lawrence Weston solar farm.

The total funding will support 9.3MW of solar projects across the city – expected to generate enough power for around 2,400 homes.

The company claims it will be the UK’s largest generator of community energy upon construction of its final array in June this year.

It has launched two crowdfunding offers, including a two-year fixed term bond.

One of the directors Andy O’Brien said: “We expect two principal types of investor to be interested in the bond: local investors who want an ability to back an ethical, renewable energy project that puts back into the community and those who simply want a better rate than you’d get in an ISA or savings account.”

Last week Bristol City Council awarded more than £53,000 for a range of community projects.