Tiree Renewable Energy Ltd. (TREL) is a wholly owned subsidiary of the Tiree Community Development Trust. TREL is governed by a group of voluntary directors and day to day duties carried out by staff of The Trust.
The main funding acquired to build the wind turbine project came from two loans:
- TREL borrowed £1.2m from the Co-op Bank
- The Trust received a capital grant of £712,600 from The Big Lottery Fund’s Growing Community Assets project which was then loaned to TREL
TREL transfers to the Trust all available net cash as a donation after paying overheads and loan repayments. The Trust then invests this in community projects.