The Danish government has establish a DKK 10 million (EUR 1.34 million) guarantee fund to help get community owned wind projects off the ground in response to a cross-party desire to see local ownership of local wind turbines. Early development costs for a new turbine can run to huge sums and if the project never comes to fruition the money is lost. The economic risk represents a major barrier for local investment in community owned wind developments, which the guarantee fund can now reduce. Once a project is complete, the turbine owner pays back the development costs. The fund was proposed to climate and energy minister Connie Hedegaard by Denmark's wind turbine owners association. It came into being as part of a new energy policy package announced on February 21 which lays the foundations for 1300 MW of new wind power to come online in Denmark in the next five years (Windpower Monthly, March 2008).
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