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Projects delivered by Alan Caldwell Associates

A new financial structure for Westray Development Trust

Wind turbine at WestrayWestray Development Trust was one of our very first clients and we have maintained a strong connection to the island and the organisation over the years.  Our latest work will devise a new legal structure for the Trust and its trading subsidiary to manage the income from their new, community owned, wind turbine.

 

Westray are one of the most inspiring examples of a development trust in the country.  This small island on the fringe has achieved remarkable things through the development trust, tourist association and range of community groups.  Play areas, the Hofn youth centre, new marina pontoons, a craft trail and various renewables projects have helped to ‘turn the tide’ for this remote community.

They are just about to commission their new, community owned wind turbine funded with the support of the Big Lottery and Triodos Bank.  Having set up a wholly owned trading subsidiary to deal with the turbine,  the Trust are looking at a legal structure that will enable them to use part of the income from the turbine to support local individuals and enterprises with loan funding.

Alan Caldwell Associates are working with Burness solicitors to devise the most appropriate legal and financial structure to manage the income from the turbine for the benefit of the island.