Lux Nova acted for Community-Owned Renewable Energy Partners (CORE) on its first investment, the purchase of the Newton Downs solar farm (5MW) in Newton Ferrers near Plymouth, from Good Energy, completed December 2017.
CORE is a £40million investment partnership established in August 2017 by two leading social investors in the UK, Power to Change and Big Society Capital, with the principal objective of acquiring operational ground-mounted solar farms and turning these into community owned assets, whilst maximising the projects’ environmental and social impact.
Yealm Community Energy, a local community business, will work in partnership with CORE to become the long-term owner of the solar farm which is expected to generate in excess of £1.4million of income benefitting local community organisations and projects over its lifetime.
CORE were also advised by Environmental Finance, with whom we worked closely to help make the transaction a success.
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