With construction and commissioning of the Sapphire Wind Farm now complete, the implementation of community co-investment for Sapphire is about to proceed with a series of “Open House” events in the region, including one in Inverell on Saturday at the RSM Club.
The Community Co-Investment initiative has been created by CWP Renewables, which also developed the Sapphire Wind Farm and is overseeing the project through construction and long term operations. CWP Renewables and the investment fund manager Partners Group are co-owners of the project through a joint entity Grassroots Renewable Energy. Construction of the Sapphire Wind Farm commenced in January 2017, and the final turbine was installed in October. Testing and commissioning activities are expected to complete in coming months.
CWP Renewables tested the local community’s interest in co-investment in late 2017, and was pleasantly surprised at the level of interest. The Community Co-Investment at Sapphire will be an Australian first, allowing local community members to invest alongside institutional investors. CWP Renewables and Partners Group have selected DomaCom (www.domacom.com.au) as their partner in the implementation of the community co-investment initiative.
DomaCom has developed a “fractional investment” platform which allows multiple investors to aggregate their investments into an asset, typically a real estate asset but now also renewable energy projects such as the Sapphire Wind Farm.
Andrew Dickson from CWP Renewables said “DomaCom is a great fit for the community coinvestment initiative. Their online platform makesit very easy for people to establish and manage their investment.”
“With over $7.3m of pledges received so far from the local community, we are pleased to now be delivering on our promise to the community, to open up the project for co-investment.”
Ben Haan from Partners Group said “Community investment is integral to our Grassroots Renewable Energy business. What we are pioneering at Sapphire will be applied to future Grassroots projects, allowing our communities to share the benefits and to invest in Australia’s renewable energy future.” Ross Laidlaw from DomaCom said.
“We are very excited to be partnering with CWP Renewables and Partners Group in the Community Co-Investment Sapphire Wind Farm. DomaCom has been a pioneer in fractional investment in Australia now in its 5th year of operation. The Sapphire Wind Farm Community Fund is a clear demonstration of the vision of DomaCom taking large institutional assets and breaking them down into fractional components to allow retail investors to obtain exposure to an asset class not previouslyavailable.”
Interested community members are invited to attend the Open House events in Glen Innes, Armidale, Wellingrove and Inverell in December to find out more and start the process to make a formal investment. To book places at the Open House events, visit https://www.eventbrite.com.au/e/sapphirecommunity-investment-roadshow-tickets-51386223578 or email firstname.lastname@example.org. For further enquiries about the Sapphire Wind Farm Community Co-Investment initiative email: email@example.com or call Taryn Lane on 0458 048 287