North Uist will get its community-owned wind farm next year, after our fundraising campaign passed £400,000 on Christmas Eve. The total raised by UistWind was £408,000 by close of play on December 24.
Our final fundraising drive was launched early in December and our NUDC development officers working on the project were greatly encouraged when the share offer hit £345,000 on December 19. By Christmas Eve, though, what was cautious optimism had given way to sheer delight.
Mustapha Hocine, chairman of North Uist Development Company, said: ‘It is the best possible Christmas present for North Uist that we have exceeded our target for the community share offer, and that we are now at £400,000.
‘This means that more people will benefit from the target interest rate of four per cent and it means that the community benefit will be even greater. Thank you to everyone who has invested in the project so far.’
Plea made to raise final £30,000 of Uist Wind project
An urgent plea has been made to potential investors to buy shares in the UistWind community wind farm project to aid in helping the community project to reach its yearly fundraising total of £350,000.
The project is seeking to raise £2.33million for the community over the project’s projected lifespan of 22 years, with the profits going straight back to the community via North Uist Development Company’s charitable activities.
The total cost of the project is to cost around £3.5million with two turbines being placed at Criongrabhal, near Clachan-na-Luib, with the majority of the project being funded through £2.5 million loan coming from Triodos Bank. A further £650,000 has been made available through a loan from the Energy Investment Fund.
Mustapha Hocine, chairwoman of the North Uist Development Company, said: “It’s been years and years of work and struggle but hopefully we can see the light at the end of the tunnel – it’s just a question of that final push to get there. Although we can see it, we’re not there yet."