Minneapolis, United States [RenewableEnergyWorld.com] High Country Energy LLC, along with its manager National Wind LLC, announced the completion of the nation’s first intrastate public offering in connection with the development of a wind project. The offering, officially filed in May of 2008, was filled and completed in only four months.
Delphi Financial Corp., an affiliate of National Wind, was the registered broker-dealer for the offering. High Country Energy plans to develop a series of utility-scale community-owned wind farms in Dodge, Olmsted and Mower Counties, Minnesota. Proceeds from the offering will be used to develop High Country Energy’s multiple phases. Financial details of the closing were not available.
“Through the offering we now have approximately 60 additional Minnesota investors in High Country Energy, helping solidify our goals for community participation,” said Mark Lucas, vice president of National Wind, and project lead for High Country Energy. “The wind energy business represents an exciting growth and investment opportunity and this offering has allowed interested investors to purchase a position within it. Wind energy is more mature than other renewable energy sectors, it has a good track record and is growing rapidly. The U.S. wind industry is expected to grow from 16,800 megawatts of installed capacity in 2007 to over 49,000 in 2015.”