The deal is between people living in the area of Crossdykes windfarm, 13km north of Lockerbie, renewables developer Muirhall Energy and their partners WWS.
The shared ownership deal, which is in addition to the £7000 per MW of community investment funds paid by Crossdykes to the community per year, gives the communities a five per cent stake in the project, ensuring they will benefit from a share of the windfarm’s profits every year.
The shared ownership model at Crossdykes is industry-leading and is being viewed as a test case for shared ownership in unsubsidised windfarms by industry body, Local Energy Scotland.
Director of business operations at Muirhall Energy Mhairi Frain said: “Putting communities at the heart of our work is central to the ethos of Muirhall Energy.
“The support of local residents and businesses was vital to ensuring that Crossdykes Wind Farm was constructed and became a success.
“I am delighted that their support has continued throughout and that they are now our partners in this development, through their investment and the establishment of this industry-leading shared ownership agreement.”
This is the first time that any Scottish community has purchased a stake in a subsidy-free windfarm, and Nick Jennings, leading on behalf of the communities, is excited for the future with the deal.
He said: “We are all delighted to have now signed on the dotted line and completed the shared ownership agreement.
“A few of us worked hard over several years to secure this.
“The wider community around the windfarm can now look forward to using the funding this will generate for their longer term benefit.
“This level of investment could bring transformational change to our area.”