The £850,000 community renewable energy bond offer for Ferry Farm Community Solar Limited (Ferry Farm CBS) near Chichester (West Sussex), was filled within record time on the platform.
The finance supports a 5MW community-owned, operational solar farm generating renewable power and using its surplus income to support local organisations and projects.
The solar farm was constructed as a commercial enterprise but was brought into full community ownership by Ferry Farm CBS in March 2020 through use of bridge financing. Ferry Farm CBS secured a long-term loan from Triodos Bank UK in September 2020, which refinanced the majority of the bridging loan. The crowdfunding bond repaid the remainder of this loan and secured the long-term finance arrangements for the solar farm.
Image: The Ferry Farm solar array
The £3 million bond offer for Nottinghamshire YMCA closed before Christmas fully subscribed. The bond offer proceeds, combined with bank debt and capital grants, will enable the charity to commence work on phase 2 of the community and activity village in Newark on Trent. The development will provide a range of accessible educational, health, leisure and community services to the town and its surrounding area and enable Nottinghamshire YMCA to deliver its mission of helping young people belong, contribute and thrive.
Image: Nottinghamshire YMCA