The Wind Company is arranging all the development work and financing of the Danish Wind World turbines, going up this month on a hillside overlooking Morecambe Bay. The project is to be sold to the local community, following the co-operative model pioneered by its Swedish parent company, Vindkompaniet AB, in Sweden. Baywind will buy the turbines one at a time as money becomes available. They are expected to be operating by the beginning of January.
"Once the turbines are fully operational I think that people will perceive that they are a good investment," says Boxer. Already there are signs of people reinvesting. "After testing the water with an initial investment of £500, say, they are already wanting to increase it," he claims. The minimum is 300 shares at £1 each, but so far shareholders have invested an average of around £1000, indicating that the minimum investment level was no deterrent.
Boxer reports that Baywind's project is also generating interest from people in other parts of the country who are looking at a co-operative approach to community ownership. "We are very optimistic that there is a future for this type of development," he says.