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.
Read more about Southill Community Energy and other investments in the Community Assets Social Impact Report.
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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