Bristol Power Co-op has announced that it has received a £100,000 community loan from Pure Leapfrog to help continue its work to install free solar arrays for Bristol residents.
The co-operative believes that the loan will allow it to install 25 free solar arrays on homes through south Bristol, in addition to the 23 arrays it has already installed on homes in Lockleaze.
The £100,000 community loan represents Pure Leapfrog’s largest community award so far.
Robert Rabinowitz, the business-led charity’s CEO explained why the company chose to support the Bristol Power Co-op: "Pure Leapfrog is pleased to be able to support the growth of Bristol Power Co-op into a self-sustaining social enterprise. We see this loan as a model for how our loans can help similar companies across the country to leverage their existing assets to achieve more environmental and social impact."
David Saunders, chair of Bristol Power Co-op, added: "The loan from Pure Leapfrog is a great step for Bristol Power Co-op and allows us to continue putting solar on Bristol roofs for free. It was awarded on the strength of Bristol Power Co-op having raised £145,000 in a community share issue which funded the Lockleaze installations. Alongside Bristol Solar City, community energy plays a vital part in Bristol becoming Europe's greenest city in 2015. Community energy projects such as ours provide cheap energy to the people of greater Bristol."