Case Study

Raising capital for positive change: Triodos and Empower Community Foundation

12 June 2023

Triodos Bank UK raised £4.35m for charity Empower Community Foundation through two separate bond offers on its crowdfunding platform.

Empower was created to accelerate the transition to sustainable low carbon local economies by seeking to ensure the financial benefits of renewable energy go back into local communities. Its two 5MW solar parks generate enough electricity to power the equivalent of 2,600 homes a year combined. The parks were originally brought into community ownership using bridging loans, most of which was refinanced by a secured long-term loan from Triodos Bank’s Project Finance team.

The Corporate Finance team worked with Empower to refinance the expensive subordinated debt by issuing a bond on the bank’s crowdfunding platform. The first tranche of £2.35m was raised in 2022 and the second £2m tranche in 2023.

“We have all seen the impact of high energy prices and the vulnerability of our energy system to global geopolitical events. A strong renewable energy system can provide an alternative to this. Our structure as a charity means we can reinvest in the local communities to build resilience through this energy transition.”

Alex Grayson, Trustee of Empower Community Foundation