abrdn invests £31m in community owned solar assets

17 March 2022

abrdn has invested £31m on behalf of its strategic partner Phoenix Group in the refinancing of CORE Portfolio Investments Limited (“CORE”), a 36MW portfolio of ground mounted solar assets located in south and west England and Wales. The financing was arranged by Finance Earth, the UK’s leading environmental impact investment advisor and lead advisor to CORE.

CORE is a £50 million social investment partnership structured by Finance Earth, with investment from Big Society Capital and charitable trust Power to Change. CORE was established to acquire operational solar farms with the principal objective of turning these into community owned assets. CORE’s mission is to support the acquisition, restructuring and optimisation of community energy assets, whilst working to maximise the collective environmental, social and financial benefits for local communities where the assets are based. Since 2018, CORE has provided £300k of funding to support charitable and local community projects with grants.

Source: abrdn