Community energy project gain Climate Bond Initiative standard
Three solar bond offers from the Big60Million initiative have been awarded certification under the global Climate Bond Initiative (CBI) standard.
The bonds are for Atherstone Solar Farm Ltd (15MW), Southam Solar Farm Ltd (10MW) and Paddock Solar Farm Ltd (9MW).
According to the official validation report, which was carried out by Bureau Veritas, the three solar power plants ‘will achieve resource efficiency consistent with avoiding dangerous climate and will contribute to Low-Carbon Economy and are therefore eligible to be certified under the CBI standard’.
The Climate Bond Standard project, developed by the Climate Bonds Initiative, helps provide assurance to investors that funds are being used to deliver climate change solutions.
Paul Camp, Finance & Business Development, Big60Million said: “We are delighted that our three Big60Million projects, Atherstone, Southam and Paddock Wood have been certified under the Climate Bond Initiative global standards programme.
“Partnering with Foresight Group, one of Europe’s largest yieldco’s proves that community investors and professional investment funds can work successfully in partnership with both recognising the value in operational solar farms built by BELECTRIC, one of the world’s leading solar PV EPCs.”
Jamie Hailstone is a freelance journalist and author, specializing in local government, transport and energy issues