- Bristol Energy Cooperative launches its new Megawatt Community Energy Fund
- Applications are open for local organisations from 1 August to 26 Sept 2017
- Profit is recycled for environmental and community benefit
- BEC is also running a crowdfund for new projects, including a community Tesla battery
We’ve just launched our new Megawatt Community Energy Fund with £50,000 for local sustainability projects. The Fund is a grant programme recycling profit from our green energy business and reinvesting it into the local area.
This marks round one of the Megawatt Community Energy Fund with applications open from 1 August to 26 September 2017. The Fund is open to groups or projects working in Bristol, South Gloucestershire, North Somerset, and Sedgemoor District.
BEC’s Megawatt Community Energy Fund provides grants to:
- Raise awareness of climate change, its solutions and mitigation
- Reduce the carbon emissions of individuals, organisations or communities.
- Reduce fuel poverty
- Develop social, arts, cultural or sports activity that encourages or celebrates sustainability
Projects can include innovations without a primary energy focus that have carbon reduction aims, such as those focusing on horticulture, food, transport, community sharing and networking, IT and health. The Fund is particularly targeted at small organisations with charitable objectives, and applicants do not have to be an energy or environmental group. Full information can be found on the Quartet website
BEC has now made over £200,000 available for community organisations and projects over the last year. Beneficiaries include Ambition Lawrence Weston, a partner in the 4.2MW Lawrence Weston Solar Farm, which was part of BEC’s £10.5m project development in 2016. Funding has helped Ambition Lawrence Weston make significant progress in its 10 Year Plan for economic and social improvements in the area.
Watch our video about how the Lawrence Weston was won:
We have already raised over £470,000 of our £1.15m target and urge the local community to invest in our new bond offer by 31 August 2017 in order to support community projects, reduce the impact of climate change, and participate in the energy revolution for all.
This Innovative ISA eligible bond has:
- the option of tax-free returns
- interest at a target rate of 4.5% p.a. for 3 years
- provision to extend past 3 years
- a minimum investment of £100
- provision to move ISA investments from other funds
BEC co-director, Chris Speller said:
“We are delighted to announce the first round of Bristol Energy Cooperative’s Megawatt Community Energy Fund. As a community-owned organisation, we are committed to using profit from our growing energy business to provide benefit for the local area and wider environment. We look forward to receiving applications from a wide range of organisations and supporting them to do more good work”.
More detailed information about the Megawatt Fund can be found on the Quartet Community Foundation website http://quartetcf.org.uk
Those interested in investing can find out more at Mongoose Crowd: https://www.mongoosecrowd.co.uk/invest/626
Note, that investing in this bond puts your capital is at risk. This means that you may lose some or all of the money that you invest. Read the full offer document, understand the risks and agree with the terms before investing. To find out more about our bond offer go to www.mongoosecrowd.co.uk
Any financial promotion contained herein has been issued and approved by Sharein Limited; a firm authorised and regulated by the Financial Conduct Authority (“FCA”). It is for informational purposes and is not an Official confirmation of terms.