Highland hydro will go ahead thanks to share offer

A community in the Scottish Highlands has raised over £240,000 in community shares in just eight weeks, for a hydro-electric scheme on the river Allt nan Cailleach in...

A community in the Scottish Highlands has raised over £240,000 in community shares in just eight weeks, for a hydro-electric scheme on the river Allt nan Cailleach in Anaheilt, near Strontian.

Sunart Community Renewables aims to raise £850,000 in shares and loans. An investment from the Co-operative Community Shares Fund supported the project in its early stages, inspiring confidence from investors and ensuring the order for the turbine could be made early on.

The community benefit society plans to install a 100KW Pelton turbine. The electricity it generates – around 425,000 KWh per year – will be sold to the national grid. Surpluses will be donated to a local community benefit fund.

Project manager Dale Meegan said: “We’re very pleased with the way fundraising is going and we now know we’ll be able to go ahead with the scheme.

“The more we can raise from selling shares, the less we will need to borrow and the more money that will be available to spend on community projects.”

He added that some people had even bought shares as Christmas presents – while the society issued a Christmas card bearing the slogan “let it flow, let it flow, let it flow” to encourage people to invest.

Co-operative Community Shares Fund investment manager Ian Rothwell said: “We’re delighted to assist the Sunart community at this crucial early stage of their share issue. The turbine should provide a long-term renewable energy source for the village, and a sustainable income stream which they can direct towards more community investment.”

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