Foot Anstey's energy & renewables team has completed the £4m development and finance of a large community solar project that will generate enough energy to power 1,000 homes in the Plymouth region.
Set up by the award winning Plymouth Energy Community to deliver community owned energy, the team advised Ernesettle Community Solar Limited (ECS) on the project
The project is being constructed by Pfalz Solar and is being funded by Leapfrog Finance. It has also involved the Duchy of Cornwall, the Four Greens Community Trust, Communities for Renewables CIC and Plymouth City Council who is promoting and backing the project.
Foot Anstey has successfully advised on key aspects of the project including the property agreements, grid connection, planning issues, collaboration agreement, mines and minerals, novation of project rights to an SPV, due diligence and disclosure.
Duncan Tringham, lead partner on the project, said: "Completion of this project is a great result for Plymouth and the community energy sector. The clean energy generated by the project will be sold to the National Grid and the surplus income can be used fund the activities of Plymouth Energy Community and the Four Greens Community Trust, benefitting additional community projects in the future. It is a leading example of what can be achieved through effective collaboration in the face of significant changes to the regulatory regime and financial uncertainty."
Contact Duncan on email@example.com or call +44 (0)1752 675027 for more information.