Lux Nova Partners continues to make an impact in the community energy space with the refinancing of one of the UK’s largest community solar farm, managed by Communities for Renewables.
We advised Leapfrog Finance on the refinancing of their construction bridge loan by Triodos, in relation to the 9.3MW “Wick Farm” solar park, located between Weston-super Mare and Burnham on Sea.
We acted for Leapfrog in their original construction funding of the solar park in 2016 and are now very pleased to see yet another Leapfrog funded project successfully refinanced. Leapfrog will continue to provide mezzanine debt to support the project until it is fully refinanced via a community bond raise this year.
Over its lifetime the solar farm is expected to generate circa £1.2 million of income for local community organisations, equating to roughly £48,000 per year for the next 20 years, an achievement all parties involved can be proud of.