£850k solar bond offer target raised in just 4 days and new community grant fund launched
Ferry Farm Community Solar, the community owned solar farm in West Sussex, has launched its latest round of community grant funding following a highly successful refinancing process. It’s now inviting local community groups to apply for grants of between £250 and £2,000 to support projects associated with Youth, Health, Environment and Climate Change Readiness. The announcement of the new grant round follows the success of the Solar Farm’s new bond offer, which raised £850,000 of investment in just four days.
The solar farm runs as a community enterprise with profits distributed to local community organisations and initiatives. To date Ferry Farm Community Solar has delivered more than £135,000 in grant funding to the local community, supporting organisations, groups and schools in Selsey and Sidlesham, as well as a fuel poverty programme for the area. The solar farm was originally forecast to generate up to £1 million of community funding, but the successful bond offer, which forms part of a wider refinancing process, will mean the community funding will now be closer to £2million over the lifetime of the project.
Jake Burnyeat, Director of Ferry Farm Community Solar Limited, comments: “We are delighted to open our latest phase of grants, which support local charities, schools and community groups in Selsey and Sidlesham. It can be very difficult for local community groups to secure funding for smaller projects so we’re very pleased that our success in securing new investment in the solar farm will enable us to help local people and projects to make a real difference.”
Applications can be made via www.selseycommunityforum.uk/Ferry-Farm/ by 31st January 2021.