Aberdeen Community Energy (ACE) have revealed that plans to construct Scotland’s first urban community hydro scheme have been finalised. ACE and the Donside Community Association (DCA) have been finalising details of the project for the past few months. Construction work on The Donside Hydro, in the village of Donside, Aberdeen, started earlier this week.
Sinclair Laing, Founder Director of Aberdeen Community Energy, said: “We’re pleased to share that everything has now been finalised and this week preparatory construction work began at the site.
“As well as reaching this hugely exciting and significant milestone, we aim to launch our Community Share Offer in the next few weeks. This will offer members of the community and indeed country, the opportunity to secure a solid, low-risk financial return on investment. We are targeting around 7% annual return.
“Now that the construction phase is underway, it’s really important that we continue to build our audience to attract supporters and investors to make the Community Share Offer a success. The more we can raise through our share offer, the more income from the project we can return to the community over the lifetime of the scheme. This is critical to also delivering on our social and environmental priorities which together take us closer to creating our sustainable riverside community.”