Ardrishaig Community Trust
COMMUNITY GROUP: ARDRISHAIG COMMUNITY TRUST
DEVELOPER: ALLT DEARG WIND FARMERS LLP (ADWF)
DEVELOPMENT NAME: ALLT DEARG COMMUNITY WIND FARM
YEAR OF COMMISSION: 2012
SIZE: 10.2MW (12 TURBINES)
Allt Dearg Wind Farmers LLP (ADWF) is an organisation of six partners which owns the Allt Dearg Wind Farm. The partnership includes two Estates Partners who own the land, two equity partners to invest and provide commercial management, a renewable energy developer, and The Ardrishaig Community Trust.
The Ardrishaig Community Trust’s trading subsidiary –Ardrishaig Renewable Energies Ltd (ARE Ltd)- was lent £300,000 from The Co-Operative Bank which they then used to invest in the project to secure a 1/12th share in the £17.4m partnership. The non-recourse loan is fully secured against the wind farm, and there is zero risk to the Trust. The Trust did not obtain any Government, Council or NGO grants or loans, and all legal costs were funded by ADWF.
The “purchase” price of the Ardrishaig Community Trust’s 1/12th share of the project was costed at 1/12th of the projected build price - a substantial discount from market value. This arrangement was agreed prior to the