Community action/Argyll and Bute

The problems created by private landlords came to an end in March 2002 when, with help from grants and loans from the National Lottery and Highlands and Islands Enterprise, the islanders purchased the island for £4 million. They now own it through a development trust, the Isle of Gigha Heritage Trust. 15 March, the day when the purchase was finalised, is celebrated as the island's "independence day". £1 million of the financial support was in the form of a short term loan. The money to pay this loan back was largely raised by selling Achamore House (but not the gardens) to Don Dennis, a businessman from California. Dennis operates a flower essences importing business and a boat tours company from the house, which is also rented out as a bed and breakfast business.

An additional £200,000 was raised by the islanders through various fundraising ventures, allowing the loan to be paid back to the Scottish Land Fund on 15 March 2004. Since the community buyout, several other private businesses have opened, providing a boost to the local economy. The island's population and economy have begun to recover as a result of these activities.

The Heritage Trust set up Gigha Renewable Energy Ltd. to buy and operate three Vestas V27 wind turbines, known locally as The Dancing Ladies or Creideas, Dòchas is Carthannas (Gaelic for Faith, Hope and Charity). They were commissioned on 21 January 2005 and are capable of generating up to 675 kW of power. Revenue is produced by selling the electricity to the grid via an intermediary called Green Energy UK. Gigha residents control the whole project and profits are reinvested in the community. In 2016 two batteries were added to the system.