The charity was formed to make a difference to the fight against climate change by providing funding to communities in the UK. This funding helps procure renewable energy technologies and energy efficiency measures helping communities reduce their carbon footprints and generate new revenue streams.
PURE Trust offers low interest finance of up to £50k or 50% of the capital cost to part fund renewable energy and energy efficiency projects in the UK. The funds, which originally come from corporate and individual donations such as Barclaycard and British Airways customers, are typically paid back over a period of 5-7 years at an interest rate of 4% APR. The repayments are then ‘revolved’ to finance the next community project.
In the last funding round, PURE loans helped five projects in Brighton, Bristol, Darlington, Newcastle and Weymouth to generate renewable heat or electricity. The projects are:
– two community-owned swimming pools,
– two community centres, and
– one community energy cooperative.
Between them the projects will save over 1,200 tonnes of carbon emissions, and will generate, after loan repayments, in excess of£500,000 for good causes in their local communities.
Adam Graveley, of BRE, who administer the fund on behalf of PURE, said: “It’s great to see charities and community groups aspiring to do something about climate change by installing renewable energy in their communities.
“We are looking for more projects to fund now. Particularly we’re interested in supporting projects that demonstrate a strong community benefit and are located in the 50 percent most deprived areas. We can tell you in less than 5 minutes whether your project is likely to qualify so please get in touch.”
Interested? The current funding round is open for expressions of interest until 17th August; register on the PURE website at www.puretrust.org.uk/communityenergyfundeoi.jsp or email info@puretrust.org.uk. There is an application process for selected projects with a view to funds being made available by the end of October.