Pure Leapfrog & the Community Energy Fund - Regensw
Pure Leapfrog & the Community Energy Fund Robin Duval 27th August 2013
energising communities
Agenda • Pure Leapfrog – who we are and what we do
• The Community Energy Fund • Case Studies • Questions
Who are we?
Accessible Expertise We bring together expertise from a whole range of leading professional service providers to help projects overcome the non-financial barriers they face
Affordable Finance
The Community Energy Fund offers low interest loans for community renewable energy projects in the 50% most deprived neighbourhoods through a £1 million credit facility from Big Society Capital.
To date, PURE funding has generated £4.50 of community revenues for each £1 loaned.
In a nutshell: Accessible Expertise
Affordable Finance
= Community ownership & benefits
Our credentials • £4.5 million of pro bono support to over 60 projects
• loans and grants to over 40 projects • a network of more than 350 organisations willing to support the empowerment of communities • £1M of loan capital to deploy in 2013
The Community Energy Fund
Eligibility • Technologies eligible for FIT or RHI.
• Charities, not-for-profit organisations, community cooperatives and any organisation operated for community benefit. • Projects located in the lower 50% of wards as measured using the Government's Indices of Multiple Deprivation. • Borrowers must confirm to PURE the community benefit created by any financial surpluses from the project.
Terms • Normally 35-65% of project costs
(can be more if existing assets are available) • Typically £10,000 to £100,000 • 4-6% determined on a project-by-project basis. • Normally 5-7 years. • No arrangement, commitment, due diligence or other fees.
We can negotiate the above on a project-by-project basis
How to apply • Phone us: (0)207 825 3973 • Fill out an expression of interest (go to www.pureleapfrog.org and press the ‘loan’ button)
It is a loan and there is paperwork! But: we will guide you through the process and will only ask for detailed info if you loan has a high chance of success. Standard contracts and models are increasingly available and our pro bono network may also be willing to support inspiring projects.
OVESCo (Ouse Valley Energy Services Company) One of Britain’s first community-owned renewable energy providers with a long-term plan to make the Ouse Valley selfsufficient in energy. In 2011, OVESCo built the UK’s first 98kW community-owned solar power station on the leased roof space of a local brewery – they used a £50,000 loan to complete a community share issue.
Under-writing a community share issue or providing a bridging loan are a couple of ways that we have helped projects succeed.
Fenham Swimming Project • Fenham Swimming Pool was closed by Newcastle City Council in 2003 despite opposition from local residents. • The local community formed a registered charity and successfully reopened the pool in July 2005.
• Solar thermal panels to provide over 60% of the energy required to heat the pool, reducing running costs and keeping the pool affordable for the local community.
Camelford Leisure Centre • Residents of Camelford set up a community cooperative to take over running of their local leisure centre when council funding dried up.
• Replacing the aging oil boiler with a modern biomass one will make the centre financially viable, keeping the pool open for seven local schools.
Thank you for listening Any questions?
energising communities
energising communities
Agenda • Pure Leapfrog – who we are and what we do
• The Community Energy Fund • Case Studies • Questions
Who are we?
Accessible Expertise We bring together expertise from a whole range of leading professional service providers to help projects overcome the non-financial barriers they face
Affordable Finance
The Community Energy Fund offers low interest loans for community renewable energy projects in the 50% most deprived neighbourhoods through a £1 million credit facility from Big Society Capital.
To date, PURE funding has generated £4.50 of community revenues for each £1 loaned.
In a nutshell: Accessible Expertise
Affordable Finance
= Community ownership & benefits
Our credentials • £4.5 million of pro bono support to over 60 projects
• loans and grants to over 40 projects • a network of more than 350 organisations willing to support the empowerment of communities • £1M of loan capital to deploy in 2013
The Community Energy Fund
Eligibility • Technologies eligible for FIT or RHI.
• Charities, not-for-profit organisations, community cooperatives and any organisation operated for community benefit. • Projects located in the lower 50% of wards as measured using the Government's Indices of Multiple Deprivation. • Borrowers must confirm to PURE the community benefit created by any financial surpluses from the project.
Terms • Normally 35-65% of project costs
(can be more if existing assets are available) • Typically £10,000 to £100,000 • 4-6% determined on a project-by-project basis. • Normally 5-7 years. • No arrangement, commitment, due diligence or other fees.
We can negotiate the above on a project-by-project basis
How to apply • Phone us: (0)207 825 3973 • Fill out an expression of interest (go to www.pureleapfrog.org and press the ‘loan’ button)
It is a loan and there is paperwork! But: we will guide you through the process and will only ask for detailed info if you loan has a high chance of success. Standard contracts and models are increasingly available and our pro bono network may also be willing to support inspiring projects.
OVESCo (Ouse Valley Energy Services Company) One of Britain’s first community-owned renewable energy providers with a long-term plan to make the Ouse Valley selfsufficient in energy. In 2011, OVESCo built the UK’s first 98kW community-owned solar power station on the leased roof space of a local brewery – they used a £50,000 loan to complete a community share issue.
Under-writing a community share issue or providing a bridging loan are a couple of ways that we have helped projects succeed.
Fenham Swimming Project • Fenham Swimming Pool was closed by Newcastle City Council in 2003 despite opposition from local residents. • The local community formed a registered charity and successfully reopened the pool in July 2005.
• Solar thermal panels to provide over 60% of the energy required to heat the pool, reducing running costs and keeping the pool affordable for the local community.
Camelford Leisure Centre • Residents of Camelford set up a community cooperative to take over running of their local leisure centre when council funding dried up.
• Replacing the aging oil boiler with a modern biomass one will make the centre financially viable, keeping the pool open for seven local schools.
Thank you for listening Any questions?
energising communities
