Wednesday 24 October 2012

£1m for renewable projects in deprived communities

A carbon reduction charity has received investment worth £1 million for renewable energy initiatives in deprived communities across the country.

PURE - the Clean Planet Trust provides low interest loans for community projects to help them set up small-scale energy schemes through its ‘Community Energy Fund’.

It enables community organisations to install renewable technologies that qualify for the Government’s Feed-in Tariffs (FiTs) and Renewable Heat Incentive (RHI) schemes, which is expected to provide a “continuing income stream” whilst cutting carbon emissions.

PURE claims projects funded to date - like the solar panels installed in Rock Village Hall (pictured) in Worcestershire - are expected to reduce around 1,200 tonnes of emissions and help generate more than £500,000 worth of new community revenues.

Nick Hurd, Minister for Civil Society said: “This great carbon reduction project will deliver social as well as environmental benefits and make a real difference to deprived communities across the UK.

“Our priority is to build a bigger and stronger society and grow the economy. We set up Big Society Capital so that social enterprises and charities can get better access to finance so they can expand their services and develop better solutions to our social problems – today’s announcement is a great endorsement of this working in practice.”

Big Society Capital, a social investment market provided the fund.