Posted: Wednesday 9 May 2012
Morton Fraser were delighted to act for a variety of lenders including Social Investment Scotland, CAF Venturesome and the Scottish Government “Community Lenders” in their lend to the Neilston Community in their joint venture with Carbon Free Developments (private Company based in Stirling and London) for the development of four wind turbines on the site of the Old Drumgrain Land fill on the Neilston’s Kingston Road. It is anticipated that the output of the site will meet Neilston’s total consumption of electricity per year.
Neilston share in the profits of the sale of the electricity supplied to the National Grid. This allowed them to fund the loan from the “Community Lenders” for the Community’s interest in the Joint Venture.
Key to the success is a good understanding of the proposed structure of the deal, flow of funds and a clear, well assessed financial model showing the likely revenue stream.
This is a great example of how well run Communities can approach such Community Lenders who are committed to backing well thought out proposals however ground breaking they may be, that truly benefit the Community as a whole.
Morton Fraser are delighted to have acted in one of the first of these “Community” Investments. Please contact Susan Younger on 0131 247 1204 or email email@example.com if you are interested in setting up a Community body to carry out a project or want to borrow/invest in a Project.