Partner with us to build a sustainable future for the IsIe of Raasay
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 invite you 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 see a financial return for your support in the years to come.
Green electricity generation - The schemes are estimated to generate, on average, 520,000kWh of electricity each year translating to annual savings of 127 tonnes of CO2 emissions.
Community Benefit Fund - Conservative projections indicate the schemes will generate a surplus from 2024 of c£6k rising yearly to c£28k in 2031 and beyond which will support community and environmental projects. We will work with the community to identify local uses for the electricity that we cannot export to the national grid. Initially this will provide energy to dry wood as part of the community's ongoing wood fuel initiative, and we are looking into providing charging points for electric vehicles.
Buy shares and become a member of RCR
We have raised over £300K in grants to support the build and we need a further £650K to bring the project to completion. Individuals and organisations are invited to buy shares in our schemes and help us reach our target. In doing so, you will become a valued member of Raasay Community Renewables.
Community Contributor Members = individuals living in the Raasay postcode area Contributor Members = individuals who live off island, or incorporated organisations regardless of location.
Shares are available in increments of £25 (1 share = £25).
There is a different minimum investment for each membership category.
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 - Our aim is to pay interest at 4% with the first payment made in 2024. 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.
The share offer document 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
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