Pioneering an Australian First
It’s the way of the future: the opportunity to invest directly into local community infrastructure assets. CWP Renewables is proud to be pioneering Australia’s first community co-investment into a large scale wind farm. Community co-investment is where members of the community are invited to invest in a renewable energy project that’s developed, financed and managed by a third party.
CWP Renewables and Partners Group are proud to be pioneering Australia’s first, large-scale, public, community investment into a utility-scale wind farm. The Sapphire Wind Farm Community Co-investment allowed members of the local community to invest in the Sapphire Wind Farm.
CWP Renewables and Partners Group (a global private markets investment management firm which is also the majority equity investor in the Sapphire Wind Farm) sought to share the benefits of their wind, solar and battery projects with the local communities which host the projects. CWP Renewables and Partners Group were pleased to partner with DomaCom on this innovative project. DomaCom developed an online ‘fractional investment’ platform for retail investments, which was adapted for the Sapphire Wind Farm Community Co-Investment.
Over $7.4m of pledges were made by community members interested in investing throughout 2017/2018.
Community Co-Investment Initiative
During the Discovery Phase, to ascertain the community interest, the Sapphire Wind Farm hosted a series of Discovery Sessions across the New England North West. Sessions were held in Inverell, Glen Innes, Wellingrove, Moree, Tamworth and Armidale. A survey was also undertaken in order to gauge the interest in investing directly into a large-scale commercial wind farm. The survey opened on 3 September and closed on 31 October 2017.
The key outcomes of the survey were:
• 337 respondents – 80% local residents
• $5,357,500 pledged
• Very positive community sentiment
• Significant regional and national media coverage
For detailed findings, please read the Community Investment Testing Report by Akin Consulting.
Due to the overwhelming interest in the opportunity for local community members to invest money into the wind farm and participate in the financial benefits from the sale of renewable electricity, the community investment will go ahead.
To continue to gather community interest we have reopened the survey. Please fill out the survey to register your interest and help us best plan for the share offer which we will aim to open in late 2018. All participants in this survey will be subscribed to regular updates about the community investment process. If you have any questions please firstly read the detailed FAQs below.
“Great initiative and model for the future”
“Should be done for all wind farm projects in Australia, very positive for all Australians”
“We believe that this project could be an inspiration to other communities”
Community Investment Testing participants 2017