Construction of a new wind turbine which will be entirely owned by the local community of Huntly, is now underway after receiving a £2 million support package from Clydesdale Bank.
The Greenmyres Community Wind Project – which will see a 500kW Enercon wind turbine erected on Greenmyres Farm – is being managed by the Huntly and District Development Trust.
The finance arranged by the bank’s renewable energy team comprises 80% of a total of £2.5 million funding, which was also supported by Social Investment Scotland and the Scottish Government’s CARES scheme.
As part of the project, people in Huntly and beyond will also have the opportunity to purchase shares in the project. Shares will be made available in the spring of 2017.
Richard Hammock, Chairman of Greenmyres Renewable Energy, said: “The turbine will be a valuable resource for creating clean, green energy, which the local area will benefit from economically, as we look to reinvest profits to good use within the region.”