Triodos Bank UK is launching a £2m community renewable energy bond offer on its crowdfunding platform for Empower Community Foundation. This is the second bond offer from Empower and will complete the refinancing of its two 5MW solar parks.

The Empower Community Foundation is a charity that owns two solar parks, one near Salisbury in England and one near Arbroath, in Scotland. Both solar parks were completed in 2016 and combined have been generating electricity from over 38,0000 solar panels.

As a charity, Empower will reinvest its surpluses into projects in the local community helping to support a fair energy transition and providing grant funding to a range of educational, social and environmental causes.

The solar parks were originally brought into community ownership using bridging loans to fund the transaction. The majority of this has been refinanced using a secured long-term loan from Triodos Bank UK. The crowdfunding bond will repay the remainder of this loan for its Scottish solar park, New Mains of Guynd, and will secure funding for the remaining life of the solar parks.

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