This is an exciting opportunity to become part of a community benefit scheme to own a stake in a community owned hydro development. The site will be located by the A838, just past Rhiconich.
The project will be funded via a share offer by Highland Community Energy Society and will be managed by Energy4All Limited who are located in Cumbria. Energy4All are market leaders within their industry and have successfully assisted 28 community co-operatives raise over £88 million via share offers and continue to manage the administration of all these co-operatives.
Shares purchased will be known as ‘K-shares’. The hydro project will be wholly owned by Kinlochbervie Community Energy Limited (KCEL), a Society for the Benefit of the Community. The shares in KCEL are held by Highland Community Energy Society, Energy4All and Kinlochbervie Community Company (KCC) equally. Highland Community Energy Society will lend the money raised from this Offer to KCEL at interest to allow construction of the hydro project.
The share offer will be done in two phases and proposes to raise approximately £707,000. £275,000 has already been raised in February 2021 to enable construction to commence, and the balance to be raised in Summer 2021. Full details and terms and conditions are available in the Share Offer Document from the first phase.
Community ownership maximises the economic benefits of renewable energy schemes and generates funds for community benefit. From any surplus profits made after all fees and expenses have been paid, a proportion will be donated to the Kinlochbervie Community Benefit fund which will then become available to local community groups in the area who can submit applications for grants.
Benefits include:
- A community benefit fund
- Attractive financial return to members
- Extended economic benefits for the local area
- Educational support on environmental issues
- Individual commitment to low carbon initiatives
- Membership of a nationwide network of renewable energy Societies through Energy4All
