LUX NOVA PARTNERS ACTS ON LEAPFROG’S FIRST DEPLOYMENT OF FUNDS – FINANCE OF 4.1MW ERNESETTLE COMMUNITY SOLAR PROJECT
Lux Nova assisted Leapfrog Finance to secure funds last summer from Big Society Capital to launch two innovative financing products for community renewables there was a runaway pipeline of community projects. Government policy changes followed in the Autumn and November, including the removal of various tax incentives for community schemes, leaving a lack of community capacity to take on multi-million pound infrastructure asset projects capable of delivering substantial community benefits. A success story is Plymouth Energy Community (PEC) in partnership with Communities for Renewables CIC, who have created a flagship project for the South West and the entire community sector. LUX NOVA PARTNERS is proud to have assisted Leapfrog Finance in its funding of the construction of a 4.1MW solar PV project on a brown field site located in Ernesettle, which has the potential to generate over £1m of community benefit over its 25 year life. The contractor, Pfalzsolar, is already on site, and is expecting to commission the project to meet the 1.3ROC deadline. The team at LUX NOVA PARTNERS have worked with the parent of Leapfrog Finance since 2012.
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