Leapfrog Finance funded the acquisition by Empower Community Foundation of two Community Interest Companies holding a combined 10MW solar assets, constructed by Pfalzsolar. ECF will run the solar farms as community projects for the benefit of the local communities, maximising the community benefit from the project income.
Lux Nova Partners and Johnston Carmichael Chartered Accountants acted for Leapfrog Finance. Bates Wells and Braithwate and Francis Clarke acted for Empower Community Foundation.
Richard O’Rourke, Managing Director of Leapfrog Finance said:
“We’re delighted to have been able to support ECF’s acquisition of this project. It is yet another example of Leapfrog’s commitment to not only enabling community ownership, but maximising social impact. Forecast to deliver over £2m of community income over the life of the projects, it has enormous potential to catalyse the delivery of social impact across a wide spectrum of issues in these communities.”