CWP Renewables were the developers and are the long-term operators of the Sapphire Wind Farm, and are now seeking out co-investors for their venture.
Taryn Lane is a CWP consultant, and said co-investment as not having an ownership stake, but an investment opportunity into a fully financed and operating wind farm. And she thought there were many people interested in the opportunity.
A testing process was done by the company last year and drew in about $7.5 million worth of pledges from around the local area. It was enough to lead to the launch of the investment offer, which will see investors offered a return of six per cent on their investment for 10 years.
There was a lot of interest in Glen Innes and a lot of questions asked about it.Taryn Lane
“We’ll be up here, on and off, doing a range of events from now through to the end of March,” Taryn said.
“We’ve partnered with a fractional investment platform called Domacom. So, initially the community will invest into them. They will lend that money to CWP and there’ll be a fixed return made on that.”
Domacom executive director Ross Laidlaw said his company brought the ability to fractionalise the asset so that small investors could take advantage of it to the table .
“The asset is broken down into small bite-sized pieces so it allows mum and dad investors to get an interest in this asset,” he said.
“Here, people can see that they have a connection to the Sapphire Wind Farm, and for many people that can be important because they believe in clean energy and it’s a community project.”
Taryn said there were no hidden costs.
“CWP is bearing all of the other costs, the legals, the due diligence the management fees the hosting, it’s really positive,” she said.
This time, the Sapphire Wind Farm ran a series of 'Open House' events in Glen Innes, Armidale, Wellingrove and Inverell from December 5 – 8.
On Wednesday evening it was held at the Glen Innes Services Club. Thursday saw it at the Armidale Bowling club from 1pm to 7pm, and it will be at Wellingrove Hall from 3pm to 7pm on Friday, December 7, before the event moves to the Inverell RSM from 10.30am to 4.30pm on Saturday, December 8.
Taryn said it was a “first-come first-served” opportunity only open to residents located in the Electorate of New England, with priority given to wind farm neighbours and residents of the Inverell and Glen Innes shires.