Investors sought for Barrington wind energy project

April 13, 2014 by  
Filed under Green Energy News

By Greg Bennett

A Nova Scotian wind company is seeking investors for a wind turbine project in the Atwoods Brook area.

Representatives from Watts Wind Energy Inc. presented information to a group of about a dozen people at the Barrington Lions Hall last Thursday night.

Watts Wind Energy president Stan Mason said tree clearing has been completed for the Barrington project, with roads and foundations planned to be constructed this summer.

If all goes well, the wind turbine would be delivered and installed late fall – early winter.

Capital costs for the 3.2 MW Barrington project have been estimated at $9.1-million.

Vice president Paul Pynn said the company needs at least 25 local investors, with no minimum investment required. Investors can spend as little as $1.30 for a share, or invest thousands.

Watts currently operates a 1.5 MW wind turbine near Sheet Harbour and has been awarded 20.6 MW of wind power projects under the government of Nova Scotia’s Community Feed-in-Tarrif (COMFIT) program. It has pending applications for 15.4MW in additional projects throughout Nova Scotia.

COMFIT is designed for locally-based renewable electricity projects. To be eligible, the projects must be community-owned and connected at the distribution level.

Watts Wind Energy is benefitting from extensive testing and documentation on the area performed by its former partner, Anaia Global Renewable Energies.

Watts will be holding another meeting in the near future. The date is to be announced.

(With files from Carla Allen/ Yarmouth Vanguard)


Comments are closed.