North Uist Development Company (NUDC) is launching a community share offer to get its wind turbine project up and running.
Two turbines planned to be built by Clachan are expected to generate £2.33 million in profit for the local community over the next 22 years, providing an average annual income of £105,000.
A launch event takes place in Carinish Hall from 6pm on Saturday.
Members of the public can sign up at the event and benefit from the projected 4% interest rate while also helping this vital community project.
The community share offer will be an essential element of project funding, which will ensure that more of the project revenue comes back to North Uist in the form of return on investment.
The majority of the construction and development costs will be covered by a commercial loan, but selling shares will be a key part of the overall funding package.
Mustapha Hocine, chair of NUDC, said “This share offer is crucial for our wind turbines to go ahead and is a fantastic opportunity for the community.
“The more money that is invested locally, the more money stays here. However investment is also welcomed from outwith the community.”
Community body sells shares in windfarm project
19 April 2018