BWCE’s asset management services have transferred to Bright Renewables, a new business wholly owned by its community clients. Bright Renewables acquired Mongoose Energy’s asset management business with financial support from Community Owned Renewable Energy LLP which is funded by social investors Power to Change and Big Society Capital. Mongoose Energy will be wound up in due course, once it completes the sale of its assets and settles any remaining obligations.
The first clients and owners of Bright Renewables are all former Mongoose Energy members, including BWCE, but new community clients will be joining shortly. Mongoose Energy’s asset management staff also transferred over to the new business.
We are delighted to be part of this new community owned enterprise. Becoming 100% community owned was always part of the Mongoose Energy plan. We are pleased to see that vision coming to fruition.