We’re grateful to everyone who participated in our Community Investment Testing survey.
With your strong interest in this survey and through our series of public events, we received pledges of $5.4 million from 337 community members, with 80% of pledges coming from the local area.
This enthusiasm was fantastic and demonstrates the high level of public interest in investing in large-scale renewable energy projects, alongside institutional investors.
Given the extent of interest and the decision to proceed, the community investment survey has re-opened to allow further pledges until mid-2018. If you haven’t already completed the survey, we’d welcome your input, views and interest.
Further, we will look to extend the investment opportunity to encompass the proposed Sapphire Renewable Energy Hub, which is proposed to add significant solar generation and battery storage to the Sapphire Wind Farm.
The local communities surrounding the Sapphire projects remain the priority for the community investment opportunity. Direct community investment extends the benefit sharing of these renewable energy projects, on top of the existing Community Benefit Fund and Neighbour Agreements with landowners surrounding the projects.
New England Wind, together with the other project partners, will work closely with CWP Renewables through 2018 to finalise the design and establishment of the community investment company, which will begin operating when construction of the Sapphire Wind Farm is completed in late 2018.
The community co-investment project has attracted recent media attention as the first of its kind in Australia and will hopefully pave the way for other similar projects. It’s touted to be “the turning point the wind industry has needed for years“.
