Green Energy Mull is a company currently run by a team of local people, who have been working hard to realise the Garmony Hydro project. Garmony Hydro will be a 400kw hydroelectric scheme, using a Pelton or similar turbine, on the Allt Achadh na Moine burn, near Garmony on the Isle of Mull. The group has been working with the Forestry Commission Scotland, Community Energy Scotland, Scottish Environmental Protection Agency and Argyll and Bute Council to develop a scheme which will generate green electricity over at least 40 years and support local community benefit projects.
By buying shares you will have a chance to act locally to offset your carbon emissions and help promote renewable energy. You will be able to buy shares in this exciting project for as little as £50.00 (up to a maximum of £20,000). Whilst interest will be payable (once the project is established) investing in the Garmony Hydro project should be seen as both a social investment, and a financial investment. You may not be able to withdraw your money in the first few years, but can thereafter.
The aims of the project are twofold:
- To produce ‘green’ energy thereby reducing carbon emissions.
- To produce a regular income to finance continuing community projects.
The schedule for this project is subject to a number of successful applications for regulatory permission as well as securing funding for the whole of the project. Key target schedule dates in the project are shown below:-
- Planning Permission Obtained May 2012
- Abstraction License Obtained May 2012
- Site lease agreed with FCS Spring/Summer 2013
- Capital Secured Winter 2013
- Construction Start Spring 2014
- Commissioning Summer 2014