Plans are at an early stage but members of the committee are keen to get the community's support and intend to hold a public meeting within the next few months as well as distribute information leaflets.
They are also encouraging local people to join the new community company.
Accessed off the A9 at the eastern end of the village, the Big Burn is visited by thousands of people a year.
A spectacular 1.5 mile walk runs along the burn, crossing from one side to another via footbridges at several points. The path ascends some 84 metres to the head of the gorge where there is a viewing platform.
The idea of a hydro-scheme was first mooted by local resident Helen Houston, a former member of Vision Golspie, a group which grew out of the Small Towns Network and was formed to carry out improvements to Golspie.
Vision Golspie was granted funding by Community Energy Scotland (CES) last year to undertake a feasibility study into a renewable energy project at the Big Burn.
The new community power company has evolved from Vision Golspie and management committee office bearers are John Ford, chairman; Tim Cockerill, treasurer (interim); and Alison Cameron, secretary. Mr Ford said it was now hoped to appoint, in the autumn, a part-time project officer on a two-year contract to push forward the project.
An application for funding would be made to the Scottish Government's Community and Renewable Energy Scheme (CARES) through Community Energy Scotland.
Start-up funding to help with developing community awareness and funds to pay for the flow measurements required by SEPA, have already been obtained. The company is eligible for funding from the same source for some of the capital costs.
The scheme will involve constructing a weir at the top end of the walk - above and on the other side of the road to Big Burn Cottage - and a turbine house near the viaduct at the start of the walk. The weir and the turbine house would be connected by pipe work.
Mr Ford said the weir would be a fairly small structure and would not be noticeable, while the turbine house would be designed sympathetically to blend in with the viaduct surrounds. He conceded that construction work would cause initial disruption but gave an assurance that the Big Burn would eventually be restored to its original state.
None of its value as a local attraction and tourist destination would be lost, he said.
And he pointed out that in the long term, the scheme would generate the funding needed to maintain and improve the signage and path network. Currently maintenance work at the Big Burn is carried out voluntarily by local people, chiefly Colin Ploughman, who is 90 next month.
It is estimated that around £60,000 a year could be generated by selling the electricity created to the National Grid.
"The funding stream has been estimated at £60,000 a year although that is by no means certain because tariffs change," said Mr Ford. "It could be substantially more, but it also could be less.
"The profits would be wholly devoted to local charities and projects."
Golspie Community Power has secured the agreement of landowner Sutherland Estates who have an added interest because water from the Big Burn is used to feed the fountains at Dunrobin Castle. This flow has been guaranteed, as has that to Golspie Mill.
Meanwhile, Golspie Community Council has given its backing to the plan.
Power company committee members have also been in discussions with Highland Council planners and also the Scottish Environment Protection Agency (SEPA), although applications for relevant consents have yet to be submitted.
All going to plan, he anticipated that construction work would be underway by the middle of 2012.