FAQ

Who owns Soirbheas?
As a company limited by guarantee, Soirbheas doesn’t have shareholders in the way that most companies do. It was formed for the purpose of taking the benefit from the Corrimony Wind Farm development and distributing it to the local communities. Soirbheas invested in the project to acquire one “virtual” turbine.

What are the directors of Soirbheas paid?
The directors of Soirbheas are all volunteers and have given up their time for no charge. From time to time they incur expenses on behalf of Soirbheas, which are reimbursed, but otherwise they receive no money at all from the company.

Where is the money to fund Soirbheas coming from?
Until the first receipts are received from the windfarm, Soirbheas will have no income. The costs of operating Soirbheas in the meantime are being funded by a variety of grants from Community Energy Scotland and the lottery fund. The cost of investing in the windfarm and constructing the turbines has been funded partly by a bank loan and partly through a grant from Social Investment Scotland. At the present time due to the huge cost involved, the community will not be asked to financially support the project.

How will the loan from Social Investment Scotland be repaid?
The loan, which is secured on the assets of Soirbheas’ i.e. the stake in the windfarm – will be repaid from the money earned from generating electricity. Over time, it is intended that the loan will be paid down, increasing the funds available to be spent on community projects.

Will the community have any responsibility for paying down the bank loan?
No. If for whatever reason Soirbheas is unable to meet its obligations to the bank, there will be no recourse to the community. However, Soirbheas members, as members of a company limited by guarantee, will have a liability up to a maximum of £1 each in the event that the company (Soirbheas) fails.

What will the money be used for?
All we know right now is that the money will be spent for the benefit of the local community. Soirbheas will consult with local groups in terms of how funding is allocated and in proposing specific projects for funding.

Will I get cheaper electricity?
Unfortunately not, or at least not directly from Soirbheas. In the long term, decreasing reliance on fossil fuels should certainly reduce the environmental cost to us all, however.

Will there be any jobs created locally?
We have already created a part-time role for a Community Development Officer within our community. In addition it is hoped that the distribution of profits from the windfarm will boost the local economy and in turn generate employment.