Garmony Hydro (Green Energy Mull)
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Green Energy Mull (GEM) is an Energy Supply Company, and this company will own and operate the hydroelectric system. Any net profits remaining at the end of the financial year from operating the hydro scheme will then be gifted to the Mull and Iona Community Waterfall Fund which is a registered charity. The advantage of the Waterfall Fund being a charity is that the gifted money will be free of corporation tax. The Waterfall Fund committee will then oversee the distribution of funds to island groups and community projects.
The Mull and Iona Community Waterfall Fund committee will be drawn from the main settlements of the islands to ensure that geographic representation is fair. In addition, the committee may also recruit a selection of former island residents who have achieved success, but who still maintain strong links with the island. This is so a wider view of possible alternative projects can also be gained. Mull and Iona Community Trust may also play a part in the committee.