About CfR

CfR is a mission-led community interest company which helps to set up local energy enterprises and works with them to develop, finance and manage their own renewable energy generation.

Since setting up in 2012, CfR has worked with local energy enterprises in over 30 localities from villages to cities to help deliver community energy generation ranging from solar from school roofs to one of the largest community solar farms in the UK. CfR have managed MW-scale renewable energy projects from business planning and feasibility development, procurement, construction, financing and operation. Collectively, CfR’s community energy clients have raised £78million of capital (including £17million from over 2,000 community investors) and will generate around £20million of surplus income (after operating and finance costs) to support net zero transition, fuel poverty and other community projects in their localities over the next 25+ years. Each year they produce around 50,000 megawatt hours of electricity from the sun, equivalent to the consumption of 13,500 homes. CfR’s contribution to the community energy sector has been recognised through CfR winning the 2018 CEE Community Energy Champion and Young Community Energy Champion awards and being short-listed for CEE community energy finance award and 2018 and 2019 REA awards. In 2020 CfR was listed in the Natwest SE100 index of top UK social enterprises. As a Community Interest Company (CIC), any surplus made by CfR is re-invested in supporting further community energy projects.

What we do

CfR develops, finances and manages megawatt-scale solar and wind projects which are run for the benefit their local communities. We work with community enterprises, landowners, councils and charities who share our values. Our services include:

  • Local energy enterprise set-up and business planning.
  • Project development (including site finding and feasibility assessments, planning consent, landowner engagement, grid connection, power purchase strategy and construction and operations contractor procurement).
  • Working with project developers to develop community ownership and joint venture models.
  • Managing the purchase of development-stage and operational projects from commercial developers into local community ownership.
  • Raising construction and long-term finance from commercial banks, social investors and community share / bond offers.
  • Ongoing company and asset management.
  • Developing and implementing business models to help our clients deploy their surplus income, innovate and grow their local energy enterprises beyond their ‘anchor asset’ solar farm.

Company and Asset Management 

CfR provides company and asset management services to nearly 50 megawatts of community solar across 7 diverse localities from Somerset to Shropshire. Our services cover all aspects of managing the enterprises on behalf of the volunteer boards including: daily performance monitoring: management of O&M and other operations contractors; H&S oversight; book-keeping and financial administration; quarterly management and annual accounts; loan administration, compliance and covenant tests; company secretary duties and regulatory compliance; quarterly board reporting and meetings; community benefit management; member registrar management and member communications.

Financing Transaction Management 

We have supported the financing for community solar projects with a total capital value of over £60million under a range of finance structures. Our experience includes management of:

  • Acquisition / construction financing, including completion of transactions with social investment funds, council loan funds, tax-based investment funds and construction contractor finance.
  • Long-term project finance, including completion of transactions with commercial banks and council loan funds. Loan sizes from £3m – £12m;
  • Community share/bond raises for both community benefit societies and CICs working with a range of local and national legal, financial and marketing advisors, fund raising platforms and under-writing investors. Community raises from £300k – £4million; £10million in total.

Vision and mission

CfR’s vision for technological transition is one broadly shared by many in Government and business: a low carbon energy infrastructure based on distributed renewable energy generation, energy storage and smart technologies, electrification of transport, retrofit of the existing building stock and high standards for new builds. This low carbon technology transition is well underway and will happen. But, will it happen fast enough and will it happen in a way which brings economic, social and environmental prosperity to communities, and minimises the potential negative impacts of rapid change? CfR’s vision is for the low carbon transition to:

  • Be shaped by and have the consensus of the local community.
  • To be based on a plan which works back from the zero carbon end-game and sets out the scale and speed of change required.
  • Be led by collaborations of local organisations including local energy enterprises, local authorities, community institutions and businesses.
  • Create prosperity through local green jobs, local ownership of low carbon infrastructure, and reducing and localising energy spend which is currently a drain on local economies worth around £2,000 per head of population per year;
  • Be an opportunity for positive system change – towards one which makes capital work for people and the planet and redistributes the sources of wealth creation.
  • Be realistic, with plans for the adaptation, mitigation and reconciliation measures that will be required under the range of climate change scenarios.

News

Meet Our Team

CfR  was  set  up  by  a  team  of  highly  experienced  renewable  energy,  finance  and  legal  professionals,  with the support of Regen. CfR encourages its team help us think big, innovate and collaborate to work to the common good of growing the local energy sector to a scale where it is making a material contribution to the low carbon transition. CfR has an ‘open source’ culture and we encourage all team members, regardless of their role and experience, to contribute ideas towards the effective running of the company and furthering CfR’s mission. CfR seeks to nurture a working environment which supports the long-term aspirations, health and economic needs of its staff. CfR works from a solar powered BREEAM excellent-rated office. We have located the office at the centre point of where the team members live to minimise commuting distance. 2/3rds of the team commute on foot/bike/electric vehicle. We are always keeping an eye out for good people committed to CfR’s mission and values. If you are into what we do and have experience in renewable energy consultancy, project development, finance transaction management, community share/bond offers or operations management please get in touch. To get in touch give us a call, or email hello@cfrcic.co.uk