A NEW community-owned hydro scheme on the River Avich launched its share offer on Saturday to raise £400,000 of the £1.2 million needed to build the project.
Awesome Energy (Dalriada) Ltd, a community-owned energy society based at Dalavich Post Office exists ‘to build a 350kW run-of-river hydro scheme, install a microgrid fed by the hydro and manage the supply and demand of the renewable scheme for the benefit of the community’.
The share offer explained: ‘We are now ready for investors to buy shares to make the hydro a reality. The project will only go ahead if we raise at least £400,000 from this share offer. You can buy any multiple of £25 shares from £250 to £100,000. Projected green energy generation is 1,149 MWh per year, producing average net profits of £85,000 per year for 20 years.