We did it
On 27th February 2021 we successfully raised £549,600 with 314 investors in 46 days

RCR is looking to raise £600,000 through community shares to develop two hydro schemes on the Isle of Raasay.

by Raasay Community Renewables in Isle Of Raasay, Scotland, United Kingdom

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This morning we hit our target of £650,000!!

The RCR board would like to thank you all for your contribution towards this project.  We have been astounded by the support we’ve received from all over the world and the appetite shown for community owned sustainable energy projects.  This total includes the cheques and bank transfers we’ve received that are not included in our Crowdfunder total.  The Crowdfunder page will close on the 27th February at 12:30 but we cannot accept any more investments.  Thank you.

Join the renewable energy revolution!!

Situated between the Applecross peninsula and the Isle of Skye in the Inner Hebrides, the Isle of Raasay (Eilean Ratharsair in Gaelic) is home to 170 people and a rich variety of wildlife and plants. Its name means ‘Isle of the Roe Deer’.

In September 2020, the community set up Raasay Community Renewables Ltd (RCR), a Community Benefit Society (FCA registration number 8459) to develop sustainable energy infrastructure projects that will contribute to supporting the local population and environment.

We are now offering the opportunity to buy shares in our community owned hydro-electric generation schemes which harnesses the combined potential of two run of river hydros - the 99KW Inverarish Burn Hydro and the 38KW Mine Burn Hydro. This is a fantastic opportunity to invest in social and environmental causes and you will receive a financial return for your support in the years to come.

Project Costs

1611762996_1611762994398.pngRepaying pre-build costs £154,342 (CARES loan + interest)

1611762996_1611762994540.pngBuild costs £756,000

1611762996_1611762994662.pngWorking capital £47,358

1611762997_1611762994797.pngProject costs £957,700

1611762997_1611762994919.pngWe have raised £307,700 to date

1611762997_1611762995059.pngWe need to raise £600,000 min £650,000 max

Raised to Date 1611763040_1611763039413.png

We have successfully secured two grants towards the project build costs.  These grants demonstrate great confidence in the future of Raasay Community Hydro, and we are now offering the chance to be a part of that success to our project supporters.

  • £300,000 from the SSE Development Fund
  • £7,700 from the Scottish Hydro Electric Community Trust

Green electricity generation1611763072_1611763070326.png1611763209_1611763208051.png.  

Our schemes are estimated to generate, on average, 520,000kWh of electricity each year translating to annual savings of 127 tonnes of CO2 emissions.   This is enough to power 144 homes!! 

Supporting the green recovery from COVID191611763316_1611763315457.png

The Covid-19 pandemic has been a troubling time for all but as we progress out of lockdown projects such as we propose will be key to achieving the Scottish Governments green economic recovery and achieving their renewables and carbon reduction targets.

1611763350_1611763348321.png1611763369_1611763368486.pngCommunity Benefit Fund - Updated 22/01/21.

Conservative projections indicate the schemes will generate a surplus from 2024 of c£3,500 rising yearly to c£28,000 in 2031 and beyond which will support community and environmental projects.  We will work with the community and local businesses to identify local uses for the electricity that we cannot export to the national grid.

How we might use the Community Benefit Fund1611763965_1611763963693.png

  • Increase the capacity of our Woodfuel project, to ensure a supply of locally sourced sustainable wood fuel.
  • Increase availability of well insulated affordable housing stock
  • Raise awareness among the Raasay community of information and financial support services available to individuals and businesses.
  • Encourage the switch to alternative heating systems such as air or ground source heat pumps or other renewable technologies.
  • Ensure current renewable energy projects are futureproofed to ensure they can take advantage of the grid constraint being lifted.
  • Develop community electric transport initiatives and work with Raasay Community Council and transport operators on timetables.
  • Our islands habitats need protection and management and this could be achieved through providing clear pathways, tree planting and conserving our peat lands.
  • Ensure visitors have the information and infrastructure to enjoy their stay sustainably. This could include facilities for campervans as well as signage and clear pathways.

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Buy shares and become a member of RCR1611763579_1611763578203.png

With your support we are looking to raise a further £650,000 through community shares, to help bring the project to completion.  We are encouraging individuals and organisations to buy shares in our schemes and help us reach our target. In doing so, you will not only become a valued member of Raasay Community Renewables, but you will be actively contributing towards the reduction of carbon emissions and helping our small community live in a more sustainable way. 

1611763607_1611763606007.pngMembership categories:

Community Contributor Members = individuals living in the Raasay postcode area 

Contributor Members = individuals who live off island, or incorporated organisations regardless of location.

Investment levels:

Shares are available in increments of £25 (1 share = £25).

There is a different minimum investment for each membership category.

1611763650_1611763649136.pngMinimum investment

  • £125 / 5 shares (Community Contributor Members only)
  • £375 / 15 shares (Contributor Members)

1611763650_1611763649279.pngMaximum Investment

  • £65,000 / 2,600 shares (Community Contributor Members)
  • £65,000 / 2,600 shares (Contributor Members)

To make your investment, simply select the relevant investment level from the list on this page and enter your investment amount when requested to do so.

Return on Investment

1611763797_1611763796064.pngInterest payments capped at 4%*

1611763797_1611763796203.pngInterest/return on investment from 2024

1611763798_1611763796347.pngWithdrawal of investment from 2026

*Our aim is to pay interest at 4%. At the current Bank of England base rate of 0.1%, the maximum interest we could pay is 3.1%. These are, however, historically low rates, and we can reasonably expect them to be higher from 2022. We aim to pay back all initial investment by 2040. RCR’s Board will seek agreement on the interest payment level and the amount of investment to be returned each year at a members’ Annual General Meeting.

Please refer to our share offer document and business plan for further details.   Our share offer document and business plan can be found at the bottom of this page, or on our website, where you can also find more information about the project:  www.raasayrenewables.co.uk 

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The Community Shares Standard Mark is awarded by the Community Shares Unit to offers that meet national standards of good practice. For more information about community shares, the Community Shares Standard Mark and the Community Shares Unit go to www.communityshares.org.uk

Levels of Investment

£125 or more

£125 Investment (Community Contributor Members)

This is the minimum investment amount for Community Contributor Members only (those with a Raasay postcode). Invest between £125 and £499. Shares are available in increments of £25; you can enter your chosen amount above £125 using the 'additional investment' box.

£375 or more

£375 Investment

This is the minimum investment for Contributor Members (off-island investors or incorporated organisations regardless of location). Invest between £375 and £499. Shares are available in increments of £25; you can enter your chosen amount above £375 using the 'additional investment' box.

£500 or more

£500 Investment

Invest between £500 and £999. Shares are available in increments of £25; you can select your chosen amount above £500 using the 'additional investment' box.

£1,000 or more

£1,000 Investment

Invest between £1,000 and £2,499. Shares are available in increments of £25; you can enter your chosen amount above £1,000 using the 'additional investment' box.

£2,500 or more

£2,500 Investment

Invest between £2,500 and £4,999. Shares are available in increments of £25; you can enter your chosen amount above £2,500 using the 'additional investment' box.

£5,000 or more

£5,000 Investment

Invest between £5,000 and £9,999. Shares are available in increments of £25; you can enter your chosen amount above £5,000 using the 'additional investment' box.

£10,000 or more

£10,000 Investment

Invest between £10,000 and £19,999. Shares are available in increments of £25; you can enter your chosen amount above £10,000 using the 'additional investment' box.

£20,000 or more

£20,000 Investment

Invest between £20,000 and £65,000. Shares are available in increments of £25; you can enter your chosen amount above £20,000 using the 'additional investment' box.

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