WindShare announced it has reached a milestone. Since launching in early April, WindShare has received more than $1.2 million in interest in WindShare bonds. The commitments come from people across the country who responded to a campaign intended to test the waters for long-term wind bonds.
“We are ecstatic about the response from the public to our marketing campaign,” says Dan Lemberg, WindShare Founder and CEO. “The overwhelming support for crowdsourcing community wind farms is encouraging. We’re actively moving forward with plans to offer bonds for our first facility, which will be available later this year.”
The capital raised from WindShare bonds is used to provide financing and marketing support for community wind projects. In return, WindShare obtains rights to a portion of the energy proceeds from the wind farm, usually through a 20-year energy contract.
Those proceeds are used to back the returns provided to WindShare members. Returns can be withdrawn or left to accumulate. At the end of the 20-year energy contract, WindShare will buy back WindShare bonds for what members paid for them plus a bonus based on market performance.
The purchase of WindShares provides much-needed support and investment in communities across America. WindShare’s support of local wind projects provides communities with affordable energy, cleaner air, supplemental income for farmers, tax revenue, and jobs.