IET AGM focuses on benefits from community wind project and prospects for community share offer

Over 35 people who attended the Islay Energy Trust Annual General Meeting at ICCI on Wednesday 20th November were given details of IET’s current projects and plans. In particular, there was considerable interest in Lindy MacLellan’s briefing on the anticipated benefits (up to £80,000 p.a.) from the 330kW Community Wind Project near Castlehill which is nearing financial close, and in Jenni Minto’s preview of the launch of the Islay Energy Community Benefit Society (IECBS) in January. The cost of the Project is around £1 million, and the more that can be raised from local investors through the IECBS share offer, the less that will have to be borrowed from a bank. This means there will be higher ‘dividends’ to the community. More details on the share offer will be forthcoming over the next few weeks. In addition, there were also presentations from Flora Maclean on the Sound of Islay Tidal Project, and from George Dean on the Bio-fuel from Distillery Wastes Study which has been a joint venture with Re-Jig. Stephen Harrison, Deputy Head of Islay High School, was elected to the IET Board in place of Mr Ian Stuart who has resigned, and Kirsten Laurie and Gus Newman were re-elected as Directors.

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