Community Wind Power courting small time investors

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Japanese wind developer Community Wind Power, based in Sapporo, Hokkaido Prefecture, is planning a 20 MW wind farm in Wajima City, on Ishikawa Prefecture's Noto Peninsula in Japan's windy northern island of Hokkaido. It will fund the project with money raised mainly by small investors, although some financial support is being provided by the Agency for Natural Resources and Energy. Comprising ten, 2 MW turbines, the project's estimated cost is ´4.7 billion ($39.1 million). Investors were to be invited last month to stump up ´90 million ($748) in an initial public offering. Electricity generated will be sold to the Hokuriku Electric Power Company.The project is expected online in 2009.

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