Residents of two communities in the Loch Lomond and Trossachs National Park – as well as renewable energy supporters nationwide - are being given the chance of a stake in an exciting new community hydropower scheme.
The 123kw Arrochar Community Hydro Scheme is located above the village of Arrochar, and will generate electricity and income for Arrochar & Tarbet and Luss & Arden community development trusts. Interested parties have the option of buying a £250 to £100k stake in the scheme.
Applications to purchase community shares in the scheme are now open, with more information - including the share offer document - available here.
Electricity generated will also be sold to the National Grid, with income going to the communities’ development trusts for ongoing projects and future community benefit. A proportion will also be returned to members as share interest.
The scheme was initially proposed by Luss Estates, a group of local businesses committed to sustainable land management, supporting local communities and growing the regional economy.
As well as Luss Estates, the development trusts are working with community energy specialists Energy4All and Local Energy Scotland to develop the project.
Luss Estates Chief Executive, Simon Miller, said:
“Luss Estates is delighted to have initiated this scheme and to be able to support the development trusts in this project which will generate income for the local communities in an environmentally friendly scheme.
"We have worked closely with both development trusts to bring the project to this stage and will continue to support them moving forward. Luss Estates is committed to supporting the local economy, communities and protecting our stunning natural environment and this project is an excellent example of this commitment.”
Director of Arrochar & Tarbet Development Trust, Duncan MacLachlan, has worked with other community members to bring a hydro project to the area for a number of years. He said:
"It's great to see the hydro scheme is finally going ahead. The Arrochar Hydro concept results from two communities working in partnership – Arrochar & Tarbet and Luss & Arden Development Trusts.
"The scheme was offered a CARES loan in March 2015 and planning consent granted in July 2015. The scheme faced a number of challenges since inception, however with considerable help from Energy4All, Local Energy Scotland and Luss Estates we are now in the position to launch the share offer."
For further information please contact Energy4All on 01229 821 028 or email Lorraine@energy4all.co.uk.
(Pictured: Jim Lee, Director of Energy4All, at the site of the new hydro scheme).
** PLEASE NOTE: This article does not constitute a recommendation. We are not able to provide you with any advice or recommendation on any opportunity detailed, and you should always obtain independent financial and/or legal advice before entering into any opportunity.**