Broom Power Hydro Share Offer
Lochbroom Community Renewables Limited (LCR) is offering a chance for investors to buy into their wholly owned community renewable energy scheme. Broom Power is the 100kW run-of-river hydro-electric scheme being developed by LCR and is located about eight miles south of Ullapool in the North West Highlands. The scheme will cost £900,000 to develop and will produce around 470,000kWh of electricity annually, sold directly to the National Grid. With revenue from the scheme of around £100,000 every year, LCR expect to pay investors 4% interest once the scheme is built in 2017. Additionally a community benefit fund will build up over the next 20 years to return at least £500,000 to the local community. Investors will be repaid their initial investment over the twenty years.
The share offer for this community project is currently open with a minimum investment of £300 up to the maximum of £90,000. The offer is open until 31 August 2016.
Details of the share offer can be found on their website at http://www.broompower.org/
The offer is open until 31 August 2016.