A decision is due from the Shetland Charitable Trust on whether it will invest a further £6.3 million to take the Viking Energy windfarm to the next stage of development.
The project is a joint venture between the trust, Viking Energy and Scottish and Southern Energy (SSE) and the original plan was for a 127-turbine farm, although at least 24 will have to be scrapped from the plans to comply with Civil Aviation Authority rules, the Shetland Times reports.
As well as the funding from the trust, an additional £700,000 will be needed from Viking and £7 million from SSE in order to take the project to the construction stage, pending planning approval.
Financial advisory Quayle Munro has estimated that the capital value of the trust's share of the project would be £194 million at financial close, which could help sway the charity.
"Overall, assuming that Quayle Munro's estimates of value are in the right ball park, further investment in Viking Energy would be financially attractive," it told the news provider.
In other developments, plans are currently in place to create the UK's biggest wind-to-heat project at Lerwick through a partnership between Shetland Heat Energy and Power and SSE.