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| Co Financing Business Unit | Triodos Bank UK |
|---|---|
| Sector | Sustainable Energy |
The 60,000 solar panel Heart of England Community Energy solar farm near Stratford-upon-Avon has the capacity to generate 14.7MW of electricity – enough to power around 4,500 homes. The project is unique in its combination of community ownership, solar power and battery storage, and two layers of senior and junior finance.
The solar farm is co-located with 3MW of batteries operated by a third party, meaning that the site is used both to generate clean solar energy and provide battery storage services to the grid.
The project is managed by Communities for Renewables (CfR) CIC, which provides company and asset management services to 50MW of community solar projects across seven localities and has a longstanding relationship with Triodos Bank.
CfR and the Heart of England Community Energy board are very pleased to have reached this milestone. The loans from Triodos Bank and Social and Sustainable Capital provide a long-term lower cost finance solution which will help increase surplus income generated by the community solar farm to support local projects. It is also important that the funders share our values.