A public meeting was held in Bowmore Village Hall on Tuesday 14th May to discuss the proposal to establish the Islay Energy Community Benefit Society (IECBS). The idea was well-received and the presentations by Jenni Minto, IET’s Treasurer and David Hollings, from Co-operative and Mutual Solutions Limited, gave a clear explanation of how IECBS would operate.
Copies of the presentation are available here:
The purpose of the IECBS is to raise funds to finance the installation of the community wind turbine at Castlehill. A community benefit society is set up and run by its members in order to conduct business for the benefit the community. The members are people and/or organisations who buy shares in the society, and receive interest on their investments.
The profits made by the society are used to provide benefit to the whole community. Each member has one vote irrespective of the amount invested, and the Board of Directors is elected by the members.