New Scottish community wind farm aims to raise £1 million in share offer roadshow

A newly incorporated Scottish community energy wind power company is starting its share offer national roadshow next week in Edinburgh to generate £1 million in direct shareholder investment in a Scottish renewables development.

The Heartland Community Wind investment offers the chance for subsribers to become part-owners of two medium-scale turbines in the heart of Scotland – near to Aberfeldy and Kenmore.

As a Community Benefit Society, Heartland is 100% owned by its members who elect their own Board.  Anyone can become a member by taking a share in the project, from as little as £100.  

Members get a vote on the community fund, benefit from tax reliefs under the Enterprise Investment Scheme (EIS) scheme, and receive interest payments on their share capital.

The share offer will raise the remaining funds needed to construct the two medium-scale turbines, which have planning consent and are due to be operational by November 2015. 

Heartland Community Wind Limited was incorporated and registered with the UK Financial Conduct Authority as a Community Benefit Society number 7067 on 19 January 2015. The Society has been set up with 3 founding Directors. Directors will in future be elected from among the membership.

The Society is completely independent of Urlar Estate, Sharenergy and RM Energy.

Heartland Community Wind has established an annual bursary fund of £5,000 for students travelling to Perth College UHI from the PH15 postcode (Aberfeldy and Kenmore).  Five students will receive £1,000 a year from Heartlands’ Community Benefit Society to help them with the costs of further or higher education.

Just over £1 million remains to be raised after a very successful ‘pioneer’ share offer hit its £450,000 target to place orders for the two ‘small wind’ turbines, which are likely to be installed by Perth-based RM Energy, which delivers a range of small-medium turbines from manufacturers who include Gaia and Endurance.

Jon Halle, Director of Sharenergy, which is developing Heartland Community Wind said: “Scottish community renewables offer an opportunity for people to invest ethically and make a profit at the same time.”