MCS Charitable Foundation invests £50k in the Community Energy Fund
We’re really pleased to announce that MCS Charitable Foundation – an independent UK charity seeking to accelerate the widespread adoption of renewable energy and low carbon technologies – has invested £50,000 into our 2021 Community Energy Fund share offer.
This investment has been made alongside mostly individual investors and will help us to reach our £3 million target.
By directly investing in such pioneering and impactful organisations like Low Carbon Hub, MCS Charitable Foundation is demonstrating to other foundations how capital funds can act as a significant multiplier – helping to draw in additional funds – when it comes to impact investing.
The investment is in the latest round of the Community Energy Fund. Funding will help us to build Ray Valley Solar, the UK’s largest community-owned ground mount solar park, situated near Bicester in Oxfordshire. The project will generate 18 GWh of clean electricity each year, enough to power over 6,000 homes and save approximately 417 tonnes of CO2 being emitted annually. Ray Valley will be the our 48th renewable energy project and represents a five-fold increase in our annual clean energy generation.
Ray Valley Solar is also a key trial site for Project LEO (Local Energy Oxfordshire), a £40 million cross-organisational project that is conducting real-world trials to understand the role local energy can play in accelerating the transition to a zero-carbon energy system.
In total, MCS Foundation will be providing £500,000 through its capital fund to co-invest in at least 10 organisations focused on renewable energy and green technologies.
It’s great that we’ve been able to deploy our first direct investment into Low Carbon Hub. They have a fantastic track record of delivering renewable energy projects across Oxfordshire and really get what’s needed to deliver a clean energy system that benefits everyone. We can’t wait to see Low Carbon Hub put this investment to work.
Through our partnership with Ethex we’re looking to invest a further £450,000 in organisations accelerating the transition to a net zero economy and by doing this alongside individual investors we can achieve so much more. This kind of investing by foundations is essential if we are to develop a green economy and ensure we create jobs, support communities and build back better.Adrian Ramsay, Chief Executive of the MCS Charitable Foundation
We’ve been bowled over by the level of support shown for this latest round of our Community Energy Fund share offer – hitting our original target of £1.5 million in just nine weeks. This fantastic investment from MCS Charitable Foundation is crucial in helping us reach our new target of £3 million and look forward to welcoming them as investor members into the Low Carbon Hub family.Barbara Hammond, CEO, Low Carbon Hub
We’re delighted that MCS Charitable Foundation has deployed their first investment into Low Carbon Hub. This kind of direct investing by charities and foundations is really important as it enables organisations like Low Carbon Hub to catalyse at least 4 – 5 times that investment from individual investors. We’ve seen the potential that this kind of blended finance has had on our sister site Energise Africa from our partners UK aid, Virgin Unite and Good Energies Foundation. It’s great to see this approach in action to support social enterprises, community benefit societies and profit for purposes businesses in the UK – creating sustainable investment flows that will ultimately revolve as investments are paid back, so that many more organisations can benefit over the longer-term.Lisa Ashford, CEO, Ethex