New Aberfeldy wind farm community share offer extended to raise £700,000

wind_farmBy DARA BUTTERFIELD

Heartland Community Wind, a community benefit society, is offering members of the public a chance to co-own two turbines which are planned for construction near Aberfeldy.

The developers will be installing two WTN 250kW turbines on the Urlar Estate, near Aberfeldy.  The turbines will have a hub height of 30m and a blade length of 15m, giving a tip height of 45m.

The company has extended its share offer till Friday (10 July) in order to try and reach its target of £1.8 million, having already raised £1.1 million in funding.

Jon Halle, Director of the developer, Heartland, said: “Polls show a majority of people support wind turbines – but most turbines make profits only for big investors or banks.

“We’re bringing the benefits of wind power to normal people. The minimum investment is only £100. Members get a fair return on investment and the surplus goes to support scholarships for young people locally. What’s more, tax reliefs mean you can get the taxman to pay for 30% of your shares.”

“Most turbines make profits only for big investors or banks. We’re bringing the benefits of wind power to ‘normal’ people.”

Investor return is estimated at 7% based on wind projections. The project already has planning permission, grid connection and the Feed-in Tariff for this project was locked in before December 2014 –  so the project will not be affected by the recent government decision to axe £800 million of subsidies for onshore wind factories across the UK.

 

 

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