Community invest more than £700,000 in energy schemes

Founding members, Agnes Rennie, Carola Bell and Norman Thomson presenting Maggie Mackay her Shares Certificate.
Founding members, Agnes Rennie, Carola Bell and Norman Thomson presenting Maggie Mackay her Shares Certificate.

Urras Energy has burst through its target for community share investment with the total raised standing at an impressive £705,800.

This heralds a very exciting time for the Society in the months ahead with construction now underway and two additional wind turbines expected to arrive in the middle of the year.

The wind turbines will be built, owned and operated by Galson Energy as a subsidiary of Urras Energy. Urras Oighreachd Ghabhsainn as community landowner will receive net profits to invest locally.

A total number of 168 investors made contributions to this project with the average investment throughout the Share Offer sitting at £4,056 in contrast to much smaller amounts experienced in previous community benefit share offers in Scotland.

Founding member Agnes Rennie commented: I’m speechless! This clearly shows the support that exists for renewable projects which are founded on the best of community development and environmental principles.”

Construction work has commenced at the turbine site in Baile an Truiseil. Civil engineering work has also started for the seaward turbine.