THE East Renfrewshire village of Neilston is poised to benefit from up to £2 million of investment in jobs, local facilities and services after the sale of a community-backed windfarm. The boost follows the £22.6m disposal of the Neilston Community Wind Farm to The Renewables Infrastructure Group (TRIG), the green energy investment vehicle. Launched in 2013, the four-turbine, 10 megawatt (MW) wind farm had been 28 per cent owned by the Neilston Development Trust (NDT), a social enterprise serving the village and residents of Neilston, and private developer Carbon Free. Its sale to renewables group TRIG, which operates a range of onshore wind farms across Scotland, will net NDT a surplus of around £2m after loans taken out to fund its share of the wind farm are repaid and legal costs are deducted. No individual investors are understood to have made any personal windfalls as a result of the deal. NDT said the scale of the return it has generated on the wind farm underlines the strength of the investment model it adopted, declaring that it achieved “substantially” higher payments for the local community than would have been gained through traditional community benefit models.
Herald 10th May 2017 read more »