What it means to be a co-op

A co-operative society operates much like a traditional limited company except that the voting rights are distributed equally amongst the members, regardless of the number of shares held. Isle of Skye Renewables Co-op was registered as an Industrial and Provident Society with the Financial Conduct Authority. With effect from 1 August 2014, an IPS is registered under the Co-operative and Community Benefit Societies Act 2014 (the 2014 Act), which consolidates all previous legislation: our FCA Registration Number is 2685 RS.

As such it is a co-operative owned by and managed for the benefit of its Members, who are protected by limited liability status. Its constitution is in the form of Rules approved by and registered with the Financial Conduct Authority. The Rules of Isle of Skye Renewables Co-op are available to read here: Co-op rules

The objects of the Co-operative shall be to carry on as a bonafide co-operative, for the benefit of its members, the business (“the Business”) of:-

The development, management, generation, transmission and supply of electricity from renewable energy sources;

The conservation of energy through advice on energy efficiency including energy efficient products and the supply of energy efficient products and such other activities of a general commercial company as the members shall agree by amendment to these Rules from time to time; and

The promotion of awareness of environmental and related issues and support for educational initiatives related to renewable energy.

The governance of the Co-operative is vested in the Board. The Board shall be elected each year at or by postal ballot prior to the Annual General Meeting.

Laying the foundations

Co-op values

Voluntary & Open Membership

During our share offer membership of Skye Co-op was open to anyone, with priority given to Isle of Skye residents. No member could invest more than £20,000, to prevent large corporate investment.

Democratic Member Control

All members have 1 share 1 vote, regardless of how much they have invested.

Economic Participation

Members invested to become a member of Skye Co-op, giving them the right to help direct the co-operative.

Autonomy & Independence

Nadara developed the Ben Aketil wind farm, which Skye Co-op has a stake in. Community energy specialists Energy4All manage our day-to-day administration and helped to develop the co-op. However, Skye Co-op is an independent organisation - under the control of our members and the board elected by our members.

Education, Training & Information

For many years now our community fund has given grants to local environmental and sustainability schemes, such as the installation of weather stations, the creation of a community garden, and funding towards a housing association's energy strategy. These fit in with our broader mission.

Co-operation Among Co-operatives

We are part of the Energy4All network along with more than 30 other co-operatives who we can learn from and share resources with, including several other shared ownership wind farms in Scotland.

Concern For Community

Shared ownership in the Ben Aketil wind farm gives the community of the Isle of Skye a real stake in the clean energy transition that is happening on the island. It goes further than community fund payments alone, as members can help steer the direction of the co-operative and directly reap the benefits from the success of energy generation.

Co-op benefits

  • Co-op members receive annual interest on their investment.
  • The minimum investment was set at £250 to ensure the broadest possible membership.
  • One member one vote ensures your voice is heard and the board is formed from the members.
  • Direct involvement increases awareness of environmental issues at the grass roots level and provides an opportunity to do something positive about climate change.