Latest Social and Sustainable Capital News
Dec 23, 2020
Social and Sustainable Capital (SASC) and Pure Leapfrog are delighted to announce the sale of Leapfrog Bridge Finance (LBF), the finance arm of low carbon innovator, Pure Leapfrog. SASC has financed several UK community energy projects in recent years and this acquisition will enable it to build on its work in this important sector. SASC will continue to work with all LBF’s current and prospective clients and focus on growing its portfolio of social and sustainable renewable energy projects. Over the last five years, LBF has funded £50m of renewable energy projects in the UK. These schemes are projected to deliver £14.75m to local communities to create social and environmental impact. Led by Claire Hanratty, Pure Leapfrog and LBF have been at the heart of the growth in the community energy sector in the UK. Pure Leapfrog will continue this work, through its ongoing programmes to support businesses and communities to reduce their carbon impact on the planet. We are at a moment of acute crisis for our climate. Climate change affects us all. But it has a disproportionate effect on poorer and marginalised communities. SASC has long championed community energy initiatives, recognising the value in supporting low carbon initiatives that have a direct, positive impact on a local area. Claire Hanratty, CEO of Pure Leapfrog said “We believe that SASC, as a dedicated investment organisation, with its established platform, track record in raising funds and social & environmental values will be able to scale LBF and grow its impact.” Matt Andrews, who joined LBF in 2015 and is now joining the SASC team said, “I am delighted to be joining SASC at this exciting time for both social investment and renewable energy in the UK. The combined experience of SASC and LBF in the financing of renewable energy projects is a powerful platform on which to build the business.” Ben Rick, co-founder and CEO of SASC said, “We are delighted to be able to expand our presence in the UK renewable energy market with the acquisition of LBF, a leading investor in the sector. Matt brings a high level of expertise and an impressive track record to SASC and will be a highly valued member of our investment team.” SASC has invested in a broad range of community energy projects and worked with providers including Bristol Community Energy, Gawcott Fields Community Energy, Plymouth Energy Community, Resilient Energy Alvington Court Renewables and Resilient Energy Mounteneys Renewables. LBF has provided bridge finance to Plymouth Energy Community’s Ernesettle solar farm, Burnham and Weston Community Energy’s Wick Farm solar sites, Empower Community’s Drove Lane and New Mains of Guynd solar farms, Gridserve’s developments for Warrington Borough Council in Hull and York and the Ferry Farm solar site.