The recent amendment to the Great British Energy Bill marks a significant boost for community energy projects and for local communities across the UK. By including support for local, community-led energy initiatives, the government has opened the door for greater local involvement in the clean energy transition.
The Great British Energy (GBE) Bill marks a turning point for community-led energy. The bill confirms commitment from the government to the local power plan (LPP), by permitting GBE to support and invest in local energy projects alongside larger initiatives.
With £8 billion set aside for the sector in the coming years, this amendment gives GBE the opportunity to work with the local power sector to secure investment for Community Energy (CE) projects and make the regulatory changes that would enable lower cost renewable energy to be sold directly to local households and businesses.
Hugh Goulbourne, Director at CO2Sense, shared his thoughts on the milestone:
At CO2Sense, we’ve seen first-hand how local energy initiatives can transform communities. From Energise Barnsley solar installations to various other collaborations across the UK, these projects do more than reduce carbon, they deliver real economic and social benefits where they matter most.
CO2Sense is proud to be part of a Consortium of forward-thinking organisations working to democratise finance and support the UK’s transition to a more sustainable and inclusive economy. Together, this Consortium has directed £0.5 million in impact investment to Ethex, helping more people align their money with their values, while driving real change across UK communities, the economy and the environment.
As the UK works towards its net-zero targets, community energy must play a central role. With the backing of the Great British Energy company, local projects will have the opportunity to scale, innovate and contribute meaningfully to the energy transition.
CO2Sense has over two decades of experience as a catalytic investor from building a pipeline of small-scale wind assets to catalysing community hydro and providing a ‘cornerstone’ for community shares and bonds. We are committed to working with councils, policymakers and partners to accelerate the shift to a cleaner energy future.
Stay connected with CO2Sense for updates on how we’re driving community-led renewable energy solutions by following us on LinkedIn
CO2Sense can help you with bridge loans, match funding for community shares and medium-term loans for your renewable energy projects.
Contact us today on talk2us@co2sense.co.uk
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