NAME OF ORGANISATION: Chelwood Community Energy
LOCATION: Somerset
YEAR FOUNDED: 2015
ABOUT: Chelwood Community Energy is a community group founded to create a local solar farm.
INVESTMENT PURPOSE: To back Chelwood Solar Farm, a 5MW ground-mounted solar array built on 22 acres of farmland.
INVESTMENT AMOUNT: £250,000
DATE OF INVESTMENT: 2015
SOURCE OF INVESTMENT: Community Share Underwriting Fund
IMPACT: Energy & The Environment; Community & Local Democracy;
ABOUT: Chelwood Community Energy was set up to reduce the impact of climate change and increase energy security, generate significant community benefit, support the local economy and protect and enhance wildlife habitats and biodiversity. The community organisation will see the Chelwood solar scheme set up, a 5MW ground-mounted PV panel installation constructed on 22 acres of farmland near the village of Chelwood in the Chew valley, South of Bristol. The installation aims to generate energy equivalent to 1,160 homes.
PURPOSE OF INVESTMENT: The community group raised £2.45m against their share offer target of £2.7m – the total cost of the project was £5.8m. Resonance was able to support the project by providing the finance to close the gap, allowing the group to press ahead with its project. The solar project will help tackle challenges posed by climate change and offer clean energy to the local area.
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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