Galson’s community-run energy company, Urras Energy, is to announce plans for releasing capital first loaned to the company by shareholders in 2015.
The announcement of the capital repayment to shareholders is to be made at the company’s Annual General Meeting on Tuesday 17 March.
£705,800 was raised from 167 shareholders at a share issue which closed in February 2015. The money financed much of the construction cost of Galson Energy Ltd’s second and third 900kW wind turbines at Ballantrushal, as the company awaited loan finance from the ethical bank Triodos.
At this month’s AGM, details will be given about how an initial capital repayment scheme will work.
Also to be reported on at the AGM is progress on replacing the business centre at South Galson, which was destroyed by fire in February last year. Planning permission and a building warrant are in place for a new business centre of a similar size but more modern layout to the original.
Urras Energy Ltd’s AGM is to be held at Comunn Eachdraidh Nis at North Dell and will include a tour of the recently refurbished building and refreshments.