BroomPower construction is GO!
We were delighted to be joined by investors and supporters young and old at the BroomPower Breaking Ground event on Saturday 13th May….thanks to all who were able to come and all our investors near and far.
Run entirely by volunteers and financed by members of the public, Broom Power is a community hydro-electric scheme for the Ullapool and Lochbroom area. Hydro power from the Allt a’Mhuilinn burn south of Ullapool will be used to generate electricity which will be sold to the National Grid, generating income for community projects.
After 4 months of fundraising, the scheme reached its target funding of £900,000 on the 28th August 2016. There were over 450 investors, with the majority putting in between £300 and £2,000 each. 54% were from the local area and 46% from the wider UK and beyond, including the Netherlands, France, US and Japan. Many local investors did so on behalf of children and grandchildren highlighting the long-term community and environmental benefit of a community-owned renewable energy scheme. The 100kw hydro will generate income for community projects for the next 20-40 years, as well as giving up to 4% pa return for investors.
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