Representatives from the Stornoway Trust, Muaitheabhal Community Wind Farm Trust, and Comhairle nan Eilean Siar met on Thursday, 27 March, to discuss advancements in their joint venture to secure a community ownership stake of up to 20% in the Stornoway and Uisenis Wind Farms.

If fully realised, this ownership stake would bring approximately 80MW of wind energy generation under community control, potentially making it the largest community-owned wind farm in the UK and generating significant income for the Outer Hebrides.

A key focus of the Joint Venture Board meeting was the positive initial discussions held with both public bodies and commercial lenders. According to attendees, potential lenders have shown enthusiasm and interest in participating in the project.

Norman MacIver, Chair of the Stornoway Trust and the Joint Venture Working Group, commented on the progress: "From the outset of discussions around renewable energy it has been a key goal of the Stornoway Trust that the community is able to share in the benefits of any major wind farm through an ownership stake in that wind farm. 20% ownership in the Stornoway Wind Farm was therefore negotiated by the Trust as part of its lease agreement with Lewis Wind Power. That created an important benchmark that has subsequently been replicated by Eurowind in relation to the Uisenis Windfarm."

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He added: "Negotiating these industry-leading levels of community ownership in the two commercial wind energy projects was only a first step, however. We are now moving into a critical phase around exploring the financing of the project. It is therefore hugely pleasing that the initial suite of meetings with potential lenders and other interested parties has been highly positive with an enthusiastic reception around what the Stornoway Trust and its partners are seeking to achieve."

Mr MacIver noted the confidentiality surrounding ongoing commercial discussions but assured that more information would be made available to the community as the process develops.

Iain MacIver, Chair of Muaitheabhal Community Wind Farm Trust, also commented: "Although there is much work to be done over the next years to finalise the financials of the project, this initial market testing exercise has demonstrated that there is significant appetite for investment in our project. We now want to build on this initial work and over the next period we will be opening new discussions with other potential funders as well as deepening the work that has been done with the initial suite of potential partners."

Cllr. Paul Steele, representing Comhairle nan Eilean Siar, highlighted the positive initial market testing: "It is heartening that these initial discussions show a clear route to market for what we are seeking to achieve around community ownership. That work will continue over the next period and in support of it we will be constituting the Joint Venture into a formal legal entity. We will also be commissioning independent financial advice to help build the initial financial models and the legal frameworks that will safeguard the community’s position. I am of the view that what we are seeking to achieve is an exemplar for community ownership within commercial wind projects. As such we will be engaging with political representatives in both London and Edinburgh to ensure active and engaged political support for the project."

The potential for community ownership of up to 20% in both wind farms is seen as a significant opportunity for economic development in the islands, with plans to consult with the community on the investment approach for the generated revenues in due course.