A twist to the SIB model today with British Gas entering a solar panel plan for community entities via a social bond scheme…
Social Bonds To Invest £60m In Community Solar Projects
Austin Macauley – LocalGov
Up to 8,000 school, council and community buildings are set to get solar panels via a partnership between two social enterprises and British Gas.
The £60m initiative between Gen Community, Social Finance and the solar arm of British Gas will be targeted at projects that reinvest energy income back into communities. Funding will come in the form of institutional loan capital raised by Social Finance through a ‘social solar bond’.
Schemes will be overseen by Gen Community with British Gas Solar carrying out the installation.