From today you can invest in a local renewable energy cooperative which will use the profit that it hopes to make for the benefit of the community in Balerno.
The people behind it are keen to get you along to St Joseph’s Hall in Balerno this evening to hear more about how you can invest in the scheme. They need about £313,000 to be able to fund their idea which has been given planning approval by The City of Edinburgh Council.
A spokesman for Harlaw Hydro said:-“At 7.30pm tonight, in St Joseph’s Hall, Harlaw Hydro will present its plans for the hydro-electric scheme at Harlaw Reservoir and will launch the share offer. There will be opportunities for questions, comments and suggestions but most importantly there will be an opportunity to invest in this exciting community project. The prospectus and forms will be available on line and on Harlaw Hydro’s new web site which will be HarlawHydro.org.uk where there will also be copies of relevant documents.”
The scheme has been embodied in a company known as an Industrial Provident Society, and the plan is to install a 65Kw turbine at the base of Harlaw Dam to take advantage of the government’s Feed In Tariffs (FiT) for Renewable Energy to sell power to the National Grid.
We met with Martin Petty and Lynn Molleson on a bit of a wintry day recently to see where the hydro power will be made:-
The plan also includes proposals to use the building nearby for educational purposes, but it all depends on money raised. As the organisers say the more money that is invested, the less they will have to borrow from banks and the sooner the project will become reality.