Charitable Trust receives £190,000 profit from SHEAP

Shetland Charitable Trust has earned a six-figure profit from supplying district heating to properties in Lerwick.

Shetland Heat Energy & Power (SHEAP), which the trust owns, made the profit during 2019/20.

SHEAP is part of the trust’s portfolio of investments, generating funds to spend on services and charitable projects.

The company buys hot water produced by Shetland Islands Council’s Energy Recovery Plant and circulates it to heat more than 1200 homes and larger buildings, including schools, the hospital, care homes and the Clickimin Centre.

SHEAP executive director Derek Leask said they were expanding and developing business, and looking forward to contributing towards the Scottish government’s targets for reducing carbon emissions.

Mr Leask said: “We’re very pleased to be able to pass on a significant sum of gift aid and it’s great that money generated from district heating goes back in to benefit the community, especially in these difficult times.”

Trust chief executive Ann Black said: “Our trustees are pleased that SHEAP continues to supply green energy to consumers in town at a competitive price while also providing the trust with a welcome return on its investment.”