Want to read more?
We value our content and access to our full site is only available with a subscription. Your subscription entitles you to 7-day-a-week access to our website, plus a full digital copy of that week’s paper to read on your pc/mac or mobile device In addition your subscription includes access to digital archive copies from 2006 onwards
Just want to read one issue? No problem you can subscribe for just one week (or longer if you wish)
Dalavich’s community hydro scheme is £300,000 short of its share sale target, with the deadline looming on Sunday April 30.
The project has so far raised £100,000 since its public sale began in January, to raise £400,000 of the £1.2 million needed to build the eco-venture on the River Avich.
Last year a small team of local volunteers set up a community benefit society, Awesome Energy (Dalriada) Ltd, ‘to build a 350kW run-of-river hydro scheme, install a microgrid fed by the hydro and manage the supply and demand of the renewable scheme for the benefit of the community’.
Local support is high, they say, ‘with 90 per cent of voters backing the scheme. The scheme will also generate average profits of more than £80,000 a year over the first 20 years, which can be channelled directly into community projects. A target interest rate of four per cent means investors can contribute to the clean energy campaign, reducing CO2 emissions and pollution and gain a great return on their investment.’
The project has been funded by a loan from the Scottish Government CARES renewable energy scheme. The share offer is open to everyone, with a minimum investment of £250. For more information on how to invest, visit the Awesome Energy website or contact email@example.com.