Community Owned Renewable Energy (CORE) provides capital to fund the purchase and development of solar farms. CORE holds the solar farms in trust and supports the local community to buy back the assets under community share schemes.
CORE was designed by Finance Earth, Power to Change and Big Society Capital to help create revenue streams into more disadvantaged communities. Asset ownership allows communities to generate their own energy and reinvest profits to benefit local people. Power to Change’s £10 million investment was the largest single fund investment to date by a charitable foundation into social impact investment.
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Fund size
£40 million -
Big Society Capital commitment
£30 million
Key information
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Geography
UK wide -
Investment type
Enterprise debt -
Fund manager
Finance Earth -
Investment status
Current -
Investment date
2017 -
Term
3 years
Sustainable development goals
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1: No Poverty End poverty in all its forms everywhere -
3: Good Health and Well-being Ensure healthy lives and promote well-being for all at all ages -
7: Affordable and Clean Energy Ensure access to affordable, reliable, sustainable and modern energy for all -
8: Decent Work and Economic Growth Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all -
11: Sustainable Cities and Communities Make cities and human settlements inclusive, safe, resilient and sustainable -
13: Climate Action Take urgent action to combat climate change and its impacts*
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Other investors