Dalavich hydro scheme £300k short as deadline looms
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 firstname.lastname@example.org.
The Avich Falls.