RESIDENTS from the Buchan area are being urged to support a new wind energy project proposed for the Mormond Hill area which could benefit both them and the community financially.
Energy4All is the UK’s leading expert in community owned renewable energy schemes.
They previously worked with the Boyndie community to build the Boyndie Wind Farm Co-operative which is now a very successful community co-operative, paying an average over 7% ROI per annum to members in its first few years of operation.
The Boyndie wind farm has two local benefit components, the co-operative which is an investment opportunity for the local community and a community benefit fund, which is a separate trust fund for local projects. It is believed that the Mormond Hill Wind farm will adopt the same principle.
Energy4All has made an agreement with Muirden Energy, a local wind developer, which is proposing a 12 turbine project on Mormond Hill.
“Should the project be granted planning consent, this agreement allows individuals, businesses and other organisations in the local area to share in the financial benefits generated directly from the natural resource on their doorstep”, says Paul Phare, Scottish Development Manager at Energy4All.
The new community-owned enterprise will invite local residents to invest between £250 and £20,000 in the new co-operative.
According to Mr Phare: “The community wind co-operative model with one member/one vote has been successfully developed at sites in the Great Glen, Sutherland, on Skye and of course at Boyndie.
“The co-operatives have become a source of local pride and bring real benefits to the local community as well as giving local people the opportunity to benefit from an attractive annual income.”
The project will also deliver a generous community benefit fund which will be available to applications from local charities and community groups.
The public are invited to find out more details about the project at the Ritchie Hall in Strichen on Monday 6th June from 3pm-8pm.