Black Oak seeks community participation in 11.9-MW US wind scheme

Sep 24, 2014 - Black Oak Wind Farm LLC, which plans to build a 11.9-MW community wind park in New York state, has launched a new equity offering for residents and firms to join existing investors in the project.

The developer said in a press release on Tuesday that the current round is only open to accredited investors in the state of New York, while non-accredited ones will get the chance to invest later this fall. The firm will be holding meetings to give more information about the project to New York residents.

The particular wind farm will be built in the town of Enfield, in western Tompkins County. It will use seven turbines of 1.7-MW each, supplied by General Electric Co (NYSE:GE). The US conglomerate will also be providing operation and maintenance (O&M) services once the facility is completed. Local firm Tetra Tech Construction will build the plant, which will be New York’s first community-owned wind park. With construction work expected to commence later this year, the facility is seen to become operational in the autumn of 2015.

The wind farm will be selling its entire output to an “AA credit rating institution” for a period of 10 years. It qualifies for the federal investment tax credit (ITC).

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