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Wind investment plan offered as reward to green customers
1 January 2003
Green power consumers are being targeted by regional energy company Badenova as potential investors in two wind stations being developed near Freiburg in Baden-Württemburg. The utility says it is first offering the project to its green customers as a reward for their loyalty to the cause of renewable energy. Customers choosing Badenova's green product must pay a premium for it, with the premium being funnelled to development of renewable energy other than wind. By investing in the wind project, four turbines at Rosskopf and two at Holzschlägermatte, customers will not only get a return of 6.5% on their money, but also be able to directly support wind power, says Badenova. The project is being developed by Regiowind, a company formed a year ago by Badenova and renewable energy plant operator Ökostrom. Regiowind says it expects up to 700 investors to show an interest. "Wind is hindered rather than promoted by the Baden-Württemburg state government. When a project is finally authorised and stakes in the wind station put on the market, there is always a very enthusiastic response," says Regiowind's Josef Pesch. Baden-Württemburg has no more than 180 turbines, a poor showing for a German state, adds Pesch. The minimum stake in the Badenova project is EUR 3000 to raise capital of EUR 4.2 million. The closed-end wind fund is being marketed by renewables fund financing company Fesa of Freiburg. The two wind clusters, using Enercon E66 1.8 MW turbines, are due to be commissioned in August and will generate sufficient electricity for 5000 households.
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