The Low Carbon Hub Community Energy Fund aims to raise £4m of equity over the next three years to pursue a range of opportunities that will enable it to strengthen and grow its portfolio of community energy projects.
The Fund differs from previous Low Carbon Hub share offers in that it offers investors a more flexible way to invest. The Fund will:
- raise investment for a wide range of projects rather than being tied to a fixed portfolio of projects
- investors can apply to withdraw their capital after year four (subject to funds being available)
- re-open every year for a limited time to give investors a regular opportunity to invest.
- More information on the Low Carbon Hub's energy innovative programme can be found on their website.
A key area of social impact delivered by Low Carbon Hub is the revenues that go into community benefit, it is forecast that across the lifetime of the current project portfolio £2.5m will go into this Fund.
One way that monies are spent for the community benefit is the giving of grants to support the work of Low Carbon Community Groups across Oxfordshire.
For example, £9,492 was given to Power Down East Oxford for a thermal imaging project to reduce the carbon emissions of households in East Oxford, by raising awareness of energy-efficiency measures, educating people about how to reduce their energy use and encouraging the installation of energy-saving measures.