Dalavich hy­dro scheme £300k short as dead­line looms

The Oban Times - - Districts -

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 info@awe­some-en­ergy.co.uk.

The Avich Falls.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.