Braemar Community Hydro - Community Share Offer Fully Subscribed!
Braemar Community Hydro’s share offer is fully subscribed and is now closed! The £800,000 raised will now be deployed to build the scheme. Construction will start this Autumn with the aim of generating electricity from September 2016.
BCH is a Community Benefit Society set up in February 2015 to generate clean, low carbon electricity from a local hydro scheme at Corriemulzie Burn and to benefit the community through a community fund. BCH is among the first of the Community Benefit Societies created under new government legislation that provides a framework to attract investment into development projects with a community benefit.
Alastair Hubbard, a Director of BCH says “We are delighted with the response from the community and our supporters further afield. This second share offer only opened on 12 May and 3 months later we have achieved our target. We can now move quickly on to the construction phase. Once we are generating this scheme will generate a long term revenue stream for community projects and investors will be rewarded with a competitive return on their money.”
Progress updates will be available at www.braemarhydro.org.uk
More information is available from Alastair Hubbard on 07899 670750