Way back in 2009, Greener Leith joined forces with a number of community groups along the Water of Leith to investigate the potential for generating green electricity from the river, thanks to funding from Community Energy Scotland.
Sadly, the numbers didn’t stack up for any of the weirs in the Leith area, although a detailed investigation did get carried at Redbraes Weir.
Further upstream, at the Harlaw Reservoir, the business case did make sense, and so we’re delighted to share news that this week that locals have launched the Harlaw Hydro Share Offer.
There has already been an incredibly successful launch event – locals have already raised nearly £20,000 towards the project, largely by buying shares in it, but the project needs many more investors if they are to reach their target of £313,000.
Any person or community group can buy into the project – with the minimum investment set at £250.
Whilst we’re obviously not qualified to give anyone financial advice, we would encourage anyone who can afford it to consider supporting the scheme.
The Balerno Village Trust volunteers who have worked for many years to get the project this far say that they intend to pay 4% interest on the shares from year 2 of generation.
You can find out more about the project, and download a full prospectus and application form from the dedicated Harlaw Hydro website.
Photo Credit:Ewan McDowall