Local Energy Scotland has dedicated support for communities who are exploring Shared Ownership of a renewable energy project.
What is Shared Ownership and how can we help?
Shared ownership is where a community group invests in a commercially owned renewable energy project. You can find out more about what shared ownership is by watching our webinars introducing Shared Ownership and Financial Basics for Communities.
Our support includes:
- Local Development Officers and a Shared Ownership Manager
- An informational leaflet explaining our support
- Enablement grant funding of up to £25k to access professional advice including financial and legal advice
- The development loan can be used for pre-capital costs in a joint venture
- Good practice principles on Shared Ownership
- The CARES toolkit has a Shared Ownership module with background information.
- A detailed interactive finance model in the CARES toolkit will provide community groups with confidence and a better understanding of the project's viability.
- Working with the Energy Investment Fund and other funders to explore finance options.
- A search facility to browse investment opportunities for community renewable energy projects via the Local Energy Marketplace
- Framework contractors to allow community groups to select legal, financial, project management and community engagement services quickly and with confidence.
- Case studies are available to show what has already been achieved.
The benefits of Shared Ownership
- Communities get the chance to share in the wealth generated by the renewable resource in their area and create a sustainable income stream that they have control over.
- Developers get the chance to increase community engagement, access incentives such as rates relief and possibly add value to their planning application.
The Scottish Government has an ambitious target for at least half of newly consented renewable energy projects to have an element of shared ownership by 2020.
Shared Ownership on the National Forest Estate
Since 2010 Forestry Commission Scotland have made Community Benefit and a Shared Ownership offer mandatory on most renewable energy sites on the National Forest Estate.
Local Energy Scotland can support your community organisation to engage with the relevant developer locally and help you to access funding for professional advice.
Forestry Commission Scotland also have guidance, case studies and lessons learned on this page.
Support is also available to community organisations interested in developing a project on the National Forest Estate will be available through CARES and groups looking for information on support should contact their Local Energy Scotland Development Officer.