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The Financial Potential of Common Grazings: the Beinn Ghrideag Wind Farm

The Financial Potential of Common Grazings: the Beinn Ghrideag Wind Farm. Beinn Ghrideag Location. The Beinn Ghrideag Wind Farm. Three turbines on Sandwick North Street common grazings Commercial-size 3MW turbines, 145m to blade tip £13.7million debt finance. Construction 2012

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The Financial Potential of Common Grazings: the Beinn Ghrideag Wind Farm

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  1. The Financial Potential of Common Grazings: the Beinn Ghrideag Wind Farm

  2. Beinn Ghrideag Location

  3. The Beinn Ghrideag Wind Farm • Three turbines on Sandwick North Street common grazings • Commercial-size 3MW turbines, 145m to blade tip • £13.7million debt finance. Construction 2012 • 100% community owned: Point and Sandwick Power (PSP) • All profit gift-aided to Point and Sandwick Trust (PST)

  4. Point and Sandwick Trust • 20 member Board with balance between community and crofting interests: • 8 Directors nominated by 6 local Grazings Committees and 2 Community Councils • 10 Directors elected by the ordinary membership (open to all voters in Point and Sandwick district)

  5. Use of Profit from Beinn Ghrideag • Community Plan 2009, updated 2011 • Maximum 30% invested in Point and Sandwick area (eg, home energy efficiency program) • Minimum 70%invested in wider Western Isles community (eg, job creation, hospice, life-skills for special needs, arts centre, drugs and alcohol rehab, St Kilda Centre project, etc)

  6. Size of Profit from Beinn Ghrideag • £160k average annual profit per MW • £480k average annual profit per turbine • £1.4 million average annual profit • £36 million profit over 25 years Assuming 36% capacity and £95/MWhr

  7. Comparison with Private Development Typical Wind Farm Community Fund • £4,000 pa per MW • £12,000 pa per turbine • £36,000 pa for 3 turbines = £900,000 community fund over 25 years Beinn Ghrideag • £160,000 pa per MW • £480,000 pa per turbine • £1.4 million pa for 3 turbines = £36 million community fund over 25 years

  8. Potential of Common Grazings in the Western Isles • Example: 10 crofting townships using their common grazings for 3 turbines each • 30 turbines (90MW) • £14 million pa community income • Compare with: £360,000 pa from private scheme • £10 million pa average HIE/WIE expenditure in Western Isles

  9. Potential of Common Grazings in the Highlands and Islands • Example: 50 crofting townships with 3 turbines each • 150 turbines (450MW) • £70 million pa in community income • Compare with: £1.8million from private development • HIE 2012/13 budget = £75.6 million

  10. Conclusion • Income from commercial size, community-owned wind farms can transform Highlands and Islands rural economy • ONLY Grazings Committees and crofting communities can unlock this potential • Enabling role for Assessors and the Crofters Commission?

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