Posted on: 15/08/2017
Power firm Mongoose Energy has sealed a deal to finance the UK’s largest community energy project.
A 14.7MW solar farm near Stratford-upon-Avon will be supported by energy storage batteries.
The facility will be built by renewables developer Anesco.
Mongoose has secured bridge finance from Social & Sustainable Capital (SASC) and senior debt from Close Brothers.
Community energy is ‘alive and kicking’
In the autumn, Mongoose plans to issue a series of community share and bond offers to payback the bridge financing.
The shares and bonds will be offered on its own Mongoose Crowd platform.
Mark Kenber, Chief Executive of Mongoose Energy, said: “Our ability to raise finance for a project of this size shows community energy is alive and kicking in the UK, driven by people’s desire to make greener choices about their investments and their energy supply.”