Implementation of Community Co-Investment for the Sapphire Wind Farm

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With construction and commissioning of the Sapphire Wind Farm nearing completion, the implementation of community co-investment for Sapphire is about to proceed.

A series of “Open House” events has been organised in Glen Innes, Armidale, Wellingrove and Inverell in early December, to allow local residents to learn more about the co-investment opportunity, to meet the organisers and to apply in-person.

Sapphire Community Co-Investment is a first-come first-served opportunity which is only open to residents located in the Federal Division of New England. Priority is given to wind farm neighbours and residents of the Inverell and Glen Innes Shires.

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 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 co-investment initiative. Their online platform makes it 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 previously available.”

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.

Book the Open House events.

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