On Air Now

  • 519-537-1047

Now Playing

DUA LIPA

LEVITATING

Download
Listen Live Listen Live HD2

$2 Million Raised

Thursday, 10 July 2014 17:14

Helmut Schneider talks to the media and board members Thursday morning

Oxford Community Energy Co-operative raising equity capital

Norwich- The Oxford Community Energy Co-operative has succeeded in raising over two million dollars of equity capital for the Gunn's Hill Windfarm project. Sixty per cent of the investors are residents and farmers from Oxford County. 

The money raised clears the first hurdle for the OCEC who needed to raise at least 10 per cent of their 9.2 million dollar goal. President Helmut Schneider expects to reach their capital equity goal by September 2014. The investment opportunity says OCEC President Helmut Schneider is a "…significant investment in terms of returns, the performer that is calculated based on engineering calculations is in approximately the 10 per cent range which is a good investment especially with a 20 year contract from the OPA."

The OCEC started their campaign following the provincial election and raised the over 2 million dollars in 2 weeks. The investment presents an opportunity for farmers to diversify their operations. 

Not all are in favour of the wind farm however. "There is some concern, there is a group that is concerned about wind turbines from what I read in the newspaper- that the concerns are mainly around property values…"said Schneider.


Construction of the ten turbine windfarm is set to begin in the fall of 2014 and Prowind Canada is looking to use local companies in the construction process. 

To check out where the turbines are planned to be built see the link 

Share

More from Local News

Comments

Add a comment

Log in to the club or enter your details below.
Rating *

Weather

Recently Played

© Copyright 2026 104.7 Heart FM (CIHR-FM) is owned and operated by Byrnes Communications Inc.. Powered by Aiir.