News / Fetlar wind development
A COMMUNITY cooperative on a small Shetland island is seeking local investors to get a small renewable energy scheme off the ground before drastic government changes to the current feed in tariff rules come into force in January.
Fetlar Wind Ltd hopes to have two 25kw wind turbines operational by the end of the year.
The small island’s (pop. 60) development worker, Robert Thomson, said the cooperative was looking for people to register their interest so that they can be contacted once the share offer document has received the all-clear from the lawyers later this month.
He said it was vital for the £223,000 project to be operational before 1 January as it would not be viable without the current subsidy scheme.
The project will pay a modest divident and in addition investors will benefit from generous tax breaks.
The two C&F turbines will supply a micro heat and power scheme developed by Fetlar Developments Ltd ensuring that as much as possible of the power produced is used locally. It will also provide fuel for the communmity’s electric bus.
Any surpluses generated by Fetlar Wind will be gifted to Fetlar Developments to be used for community projects.
Thomson said: “If you are potentially interested, please visit www.fetlarwind.co.uk to register your interest and to receive a copy of the share offer document as soo as it is published.
“Due to changes to the feed-in tariff rules due to take effect in January 2016 there will be a limited window for investment.”
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