Congratulations to Burnham and Weston Energy, and the Communities for Renewables team that has supported them, on the successful refinance of the remaining £4m of their bridge finance with Leapfrog Finance through a community bond offer.
As a social impact funder, supported by Big Society Capital, Leapfrog Finance is particularly pleased that, through its finance, the Burnham and Weston community will own this large solar farm and £3m will be available to community benefit funds over the life of the project, supporting the community and households in the area who struggle with fuel poverty.
In late 2016, Leapfrog Finance provided £10.3m of bridge finance to enable community acquisition of the Burnham & Weston site. Burnham & Weston have now successfully completed refinance with senior debt from Triodos bank and an innovative ISA-eligible community bond offer on Triodos’ crowdfunding platform.
See the media release for more information.