Westermeerwind launches citizen participation project

As of today, citizens of the municipalities of Urk, Noordoostpolder and former Lemsterland can participate in the 144 MW nearshore wind farm Westermeerwind. It is the first time citizens can participate in such a large scale wind project in the Netherlands.

Wind farm Westermeerwind, located in the IJsselmeer lake, is operational since 2016 . It has 48 Siemens, type SWT 3,0-DD, generating enough power to provide around 160,000 households of electricity.

Equity fund Westermeerwind Aandelenfonds
A study amongst the inhabitants of the three municipalities showed interest to participate in the wind farm. The level of investment risk varied though. As a result, Westermeerwind is launching two separate participation options. The first, Westermeerwind Aandelenfonds, is a high risk- potentially high reward equity fund. This fund runs for a period of 17 years and has an expected investment return of 8 to 10 %. 75% of the shares in Westermeerwind Holding B.V. are made available for this fund. The participations have a value of 100 euro each and a minimum of 500 euros is required. The maximum number of participations is 4,673, the equivalent of 1 MW installed power of the wind farm. Shareholders will be paid dividend throughout the length of the fund.

Loan fund Westermeerwind Leningenfonds
The second option offered, named Westermeerwind Leningenfonds, is a loan fund of max. 5 million euro. The fund offers 50,000 participations of each 100 euro against an initial annual interest rate of 6%. The interest rate is, in contrast to the share fund, less subject to the total power generated by the wind farm and electricity prices. The minimum participation amount is 500 euro. After five years the participations are repaid.

Anne de Groot, Director Westermeerwind states in an official press release: “This is a special moment for Westermeerwind. We fulfil a promise made back in 2002 by the initiators. For this participation fund we are working closely together with a very professional and independent fund manager.”

The fund manager, Privium, is supervised by the Dutch supervisory authority and the Dutch Authority for the Financial Markets (AFM) and is subject to several legal requirements.
Via the website www.gavoordewind.nu Westermeerwind informs the public on the participation options. Deadline for participation is 31 January, 2019.

 

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