Community Benefit Societies have been established to advance CSO in local windfarms and thus produce renewable energy which generates sustainable funding to further community development, education and regeneration via their support of local community charities.
A Community Benefit Society is a not-for-profit organisation that operates its business purely for the benefit of the community rather than just shareholders or members of the society. Its objectives must service the broader interests of the community, such as through furthering community development, education and regeneration. The Society is owned by its members on the basis of one person / one vote. Although a Community Benefit Society is required by the Financial Conduct Authority to specify the community, or communities, to be benefited, membership is not restricted to residents of that community. This means that anyone can invest in a Community Benefit Society, subject to its rules.
As soon as a CSO offer is made to Kintyre Communities, EKREG will announce details here.