In a visit to Mull yesterday, 27 June, Energy Secretary Ed Davey announced that the island’s Garmony Hydro project is eligible for the UK Government’s feed-in tariff scheme.
Garmony Hydro is a private equity scheme with residents and friends of the island, well-wishers and ethical investors buying shares in its successful flotation. Local residents provided 60% of the capital.
Now, as well as the dividends for shareholders generated by the sale of its energy, Garmony will be able to apply for the feed-in tariff scheme, expected to be in operation next year, 2015 bringing an anticipated £50,000 pa to the island community.
