A new wind turbine project will go ahead in Pictou County this year with construction expected to start this summer.
Wind4All Communities II Inc. announced Tuesday they have successfully closed their CEDIF Offering on March 3, having raised their maximum of $3,000,000 – all from Nova Scotia investors.
“This is our third CEDIF to join the Wind4All family of companies, and it’s great to see the excitement and enthusiasm of Nova Scotian families wanting to invest in Nova Scotian projects,” Austen Hughes, President of Wind4All said. “A huge thanks goes out to all those who have invested and trusted in us.”
Wind4All will invest the net proceeds of the CEDIF into the Aulds Mountain Community Wind Farm, a two-turbine 4.6 MW wind energy project located near the community of Piedmont, Pictou County. The wind farm is due to be fully operational by the end of 2014. The project was awarded Community Feed‐in Tariff (“COMFIT”) approval in 2012 from the Nova Scotia Department of Energy, and has a signed power Purchase Agreement with NSP.
“For the third year in a row, hundreds of Nova Scotians have put their investment dollars to work here in Nova Scotia,” stated Richard Alderman of Assante Capital Management Ltd. (exclusive selling agents under the offering). “This year, over 200 investors have dedicated $3,000,000 to the renewable energy project, Auld’s Mountain, in Pictou County. With another successful sell out, Assante would like to thank all the investors for their trust in the partnership between Natural Forces, Assante and Wind4All to deliver another investment‐ready, late stage project.”
The Aulds Mountain Wind Farm is being developed by Natural Forces, a Maritime‐ owned wind energy company established in 2001 and based in Halifax, Nova Scotia. Natural Forces have in excess of 40 years of combined experience in the wind industry and have been involved in numerous projects across the Maritime Provinces.
“A big thanks to Assante and the Wind4All team in their efforts for this year’s raise,” said John Brereton, President of Natural Forces. “It speaks volumes as to the trust our team has engendered with Nova Scotian families that we have sold out for a second raise running. By the end of 2014, the Wind4All family of CEDIFs will have four projects in operation in Nova Scotia generating clean, renewable electricity and paying returns for the next twenty years right here into Nova Scotian pockets.”