Orchard Community Energy has announced that its first bond offer closed on the 30th of November, raising an impressive £729,900. This investment has significantly helped towards refinancing the newly operational 5MW solar array which is expected to generate around 5,020MWh of renewable electricity each year, enough to power around 1,250 home and save 51,000 tonnes of carbon dioxide over its lifetime. The project is expected to deliver a community fund of up to £3 million over 25 years.
A new bond offer, for £1.2 million, was launched on 7th December at an event in the City of London addressed by Ed Davey (former Secretary of State for Energy and Climate Change & Chair of Mongoose Energy), Penny Shepherd MBE (former Chief Executive of the UK Sustainable Investment and Finance Association & Chair of Orchard Community Energy) and Jamie Hartzell (founder and chair of the Ethex positive investment platform & chair of Fairtrade company Divine Chocolate). This new offer has already raised over £100,000.