Bristol Community Energy Fund launches loan scheme
1 September 2017
Good news for community energy groups in the local authority areas of Bristol, Bath and North East Somerset, North Somerset and South Gloucester: the Bristol Community Energy Fund is launching a new loan scheme to support the development of renewable energy projects.
But you need to be quick; applications to the fund close on 6 October.
The total loan pot is £128,000 and will be administered by us here at CSE.
The applicant group must be incorporated, have chosen a technology already and have done some community engagement already. The site must be within the boundaries of the local authorities listed above.
The loan can be used for pre-build costs such as planning application fees, solicitors’ fees, financial modelling, accountants’ fees for financial due diligence, preparation and launch of share offer, community engagement, project management costs and costs of arranging a grid connection.
It cannot be used for construction, equipment purchase or installation costs, and it is repayable with a 6% premium which is 'contingent' - e.g. only repayable in certain circumstances, essentially whether the project is successful or not.
Project manager, James Watt, says: “It’s a great opportunity for community energy in Bristol and the surrounding area, and we’re looking forward to progressing some projects of significant scale.”
Go to bristolcommunityenergy.co.uk for application form, guidance document and FAQs.
Any questions? Email email@example.com or call 0117 934 1400.