Community Contributor Members are individuals who live in the Raasay postcode area and Contributor Members are individuals who live off island or incorporated organisations regardless of location. There is a different minimum investment for each membership category. All funds for this project have now been raised and building work has commenced.
£25
5 shares/£125 (Community Contributor Members)
15 shares/£375 (Contributor Members)
2600 shares/£65,000 (Community Contributor Members)
2600 shares/£65,000 (Contributor Members)
Investment Return
Interest payment capped
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.
Interest/Return on Investment from
Withdrawal of investment from
2024
2026
Community Benefit Fund
Community Benefit Fund from
2024
Value of Community Benefit Fund
c£6,000 payment in 2024 rising to c28,000K in 2031 and continuing to increase over the project lifetime.
Hydro Operation
Hydro Operation
from September 2022
Repaying pre-build costs
£154,342 (CARES loan + interest)
£756,000
Build costs
£957,700 – includes prebuild, build, working capital & share offer admin costs
Project Costs
£307,700
SSE - £300,000
SHECT - £7,700
Raised to date
Contact Info
MENU
Raasay Community Renewables Limited (RCR) is a Community Benefit Society registered with the Financial Conduct Authority (Reg. number 8459). Its purpose is to develop and operate community renewable energy projects on the Isle of Raasay. RCR is legally anchored to Raasay Development Trust, a local charity. This arrangement, underpinned by a Deed of Covenant, ensures all the profits from RCR’s projects are used for the benefit of the local community and our environment.
Raasay, Highland, Scotland IV40 8PA
Website design by www.hughcampbellmarketing.co.uk