Ecodyn Limited, Fliskmillan Steadings, Newburgh, Fife  KY14 6HN

t. 077010 42871  e. contact@ecodyn.com

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Mount Pleasant Renewable Energy Co-operative

October 6, 2013

 

 

Ecodyn was approached by a farmer on South Ronaldsay who wanted a small wind turbine but was concerned about their reliability, particularly in such a remote and windy area.  Over the next several months, we set about obtaining planning approval for and installing a 65kW Harbon turbine connected to his farm and house.

We then established an industrial provident society, The Mount Pleasant Renewable Energy Co-operative Limited and developed a robust, independently audited business plan with which we were able to attract sufficient investment to fund the project entirely.  The co-operative approach to renewable energy investments has several advantages, including:

-   No requirement to make regular payments despite irregular income

-   No need to pay all your profits to the bank

-   30% rebate on income tax for investors through Enterprise Investment Scheme

-   Protection from Capital Gains and Inheritance Tax.

The turbine was installed in November 2014 and both it and the co-operative structure are performing even better than expected.  Our experience of developing renewable energy co-operatives has already attracted attention from several community groups that are interested in doing this sort of thing but horrified by the interest rates demanded by commercial banks.

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