Bristol Energy Cooperative has signed agreements adding £3.95m of funding for its community energy projects.
The company said the new money takes the total raised since its November launch to £9m.
The new finance comes from Triodos Bank, Bristol City Council and Social and Sustainable Capital and will be used specifically to fund the construction of the 4.2MW peak Lawrence Weston array, near Avomouth.
Construction is starting on the project, which is scheduled to be complete in June.
The £3.95m adds to £2.34m already raised through a crowdfunded bond and share offers, and £2.68m from Close Brothers Bank.
The finance is being used to add 9.3MW peak of community-owned solar generation capacity to the UK grid.
Other company projects include: a 4.6MWp operational ground array at Puriton near Hinkley Point, Somerset; and some 20 roof-top arrays on community buildings across Bristol.
Bristol Energy Cooperative began fundraising, in partnership with Mongoose Energy, in November 2015.
It has two crowdfunded offers currently open for public investment: a two-year fixed-term bond offer – which offers up to 6% a year returns on investments (ROI) over £500 made before 3 May – and a share offer which offers up to 5% a year ROI between £50 and £100,000 made before 31 May.
Image: Andy O’Brien, founder director of Bristol Energy Cooperative (Bristol Energy Cooperative )
