News / Wind farm share extension
A COOPERATIVE scheme that allows people to buy into a small wind farm project on Fetlar has extended its share deadline.
Fetlar Wind aims to build two 25kW turbines on the island and it is offering individuals and businesses the chance to invest in the scheme.
The turbines would supply electricity and hot water to a number of properties in Fetlar, such as the local primary school.
The project is currently around two thirds of the way towards its funding target of £223,000. The minimum shareholding for non-Fetlar residents is £500.
An initial deadline of 20 November was set for all share requests – but that has been moved to midnight on 26 November for emailed applications with bank transfers.
The original deadline still applies for postal applications and cheque payments.
Project manager Robert Thomson said that shares are still available through the Seed Enterprise Investment Scheme (SEIS), which offers a tax relief.
“We are now very possibly the only community wind project left in the UK offering the 50% SEIS tax relief,” he added.
“Our project has received great feedback from the public and we are hopeful that the community will help us achieve our target.”
The scheme hopes to produce at least 197,000 kWh per year, which would save around 84 tonnes of carbon.
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