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A London borough has become the first in the UK to put its money where its mouth isin the form of solar power.
NextEnergy Solar Fund has received a $250,000 investment from Barking & Dagenham Giving, a community-led investment fund set up in 2020 to attract investment to the borough over the next decade, the Evening Standard reports.
The fund's investment policy is to "achieve a balance between impact, risk, and return," according to the fund's website.
The NextEnergy Solar Fund, a specialist solar energy and energy storage investment company, has a portfolio of 92 operating solar assets in the UK, generating enough renewable energy to power the equivalent of about 242,000 average home electricity needs each year, the company says.
"This investment shows that renewable energy, climate change, and the challenges of net zero are relevant to every type of investor in the UK," NextEnergy Capital's vice president says in a press release.
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