Minneapolis, United States [RenewableEnergyWorld.com] High Country Energy, LLC, and National Wind, LLC have announced one of the first intrastate public offerings of a wind project’s securities in the United States. Delphi Financial Corp. is the placement agent for the offering. High Country plans to build more than 300 megawatts (MW) of community-owned wind farms in Dodge, Olmsted and Mower Counties, Minnesota.
“This offering can be made available to interested investors throughout the state of Minnesota, however it was very important to all of us in High Country to ensure that landowners within the project footprint have the first opportunity to invest,” said Barry Rogne, Chairman of the High Country Energy board of advisors. “This offering is consistent with our company’s goals of sharing ownership with a large cross section of our community.”
Investing in renewable energy capacity is becoming a worldwide trend, according to the World Watch Institute. In 2007, the Institute reported US $36 billion of worldwide investment in wind energy alone. Shared ownership is an important part of National Wind’s community-based development model, the company said.
“An intrastate public offering is a way the local, rural communities can become a part of this trend. In comparison to a private placement offering, which is typical in the renewable energy industry, this intrastate public offering will allow us to offer investment opportunities to a greater number of people, as long as they are residents of Minnesota,” said Ryan Pelstring, Vice President of Capital Markets for Delphi Financial Corp.