NAME OF ORGANISATION: Southill Community Energy
YEAR FOUNDED: 2015
ABOUT: Southill Community Energy (SCE) was created to deliver a ground mounted solar farm covering 20 acres of a 45-acre site.
INVESTMENT PURPOSE: To back the Ground Mounted Southill Solar Array project, resulting in cutting 2,732 tonnes of CO2 emissions every year.
INVESTMENT AMOUNT: £600,000
DATE OF INVESTMENT: 2016
SOURCE OF INVESTMENT: Community Share Underwriting Fund
IMPACT: Energy & The Environment; Community & Local Democracy;
ABOUT: Southill Community Energy is run by a community of members, and aims to encourage, inspire and empower local people and organisations to reduce their carbon emissions. Southill Solar will generate enough green electricity for 1,100 homes - most of the homes in Charlbury, Finstock & Fawler - for 25 years. Southill Community Energy used some of the profits from the solar farm to make a donation of £67,500 towards the new Charlbury Community Centre. The funding helped them to deliver a better energy efficiency standard for the building - thanks to excellent insulation, triple glazing and low-energy LED lighting.
PURPOSE OF INVESTMENT: Resonance engaged with SCE before the share offer was launched to discuss underwriting the scheme. As the share offer progressed, CSUF provided an underwriting commitment and loan of £600,000. With the underwriting secured, community investment of over £1.8m was secured. With additional funding from Close Brothers, the solar farm was delivered by the end of 2016.
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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