June 12, 2018
Scotland

Windfarm could create “multi-million” investment fund

Frank Cassidy, Reporter | Cumnock Chronicle | www.cumnockchronicle.com

An energy company have re-submitted an amended planning application for a windfarm near New Cumnock after it was blocked twice.

Innogy Renewables UK Ltd had applied for permission in 2012, which was refused by East Ayrshire Council in 2014 with a further appeal in 2015 also knocked back.

Their latest proposal includes a number of financial incentives which the firm say ‘could create a multi-million pound investment fund for New Cumnock’.

Called The Ashmark Hill Community Windfarm, it is proposed to install a a seven-turbine development just south of the village.

Project manager, Karen Fox, said: “This is a rare opportunity for a project to facilitate millions of pounds of fresh investment into East Ayrshire and in particular the area around New Cumnock while, at the same time, generating home grown renewable electricity.

“We have been in discussions about this proposal with a working group of community representatives for some time. We have committed to offering the community up to a 15 per cent share of net revenue, which is an opportunity for New Cumnock to take a meaningful stake in the scheme and, in addition to the community benefit fund, to share in the financial benefits of the wind farm once operational.”

Following responses to an investment consultation in 2017 and a discussion with community representatives, regeneration consultancy Regeneris have produced an independent report to highlight possible investment options through funding from the Ashmark Hill Community Windfarm.

Potential opportunities identified in the report include projects to benefit job seekers, start-up and small businesses as well as larger scale projects such as the development of a major tourism attraction in the area.

In addition to a guaranteed community benefit contribution of £5,000 per megawatt of installed capacity per year, which could deliver around £3million over the lifetime of the windfarm, Innogy has also committed to offering the New Cumnock Development Trust the opportunity to invest in the scheme.

Ashmark Hill is 5km (3.1 miles) south of New Cumnock.

URL to article:  https://www.wind-watch.org/news/2018/06/12/windfarm-could-create-multi-million-investment-fund/