Dakota Wind Energy has announced South Dakota’s first intrastate public offering, where shares in the community-based wind project are offered to residents of that state.
This press release says Dakota Wind Energy wants to develop more than 750 megawatts of community-owned wind farms throughout South Dakota:
“We want landowners participating in Dakota Wind Energy to have the opportunity to own units in the company,” says Gerry Fisher, a member of the Dakota Wind Energy board of advisors. “An intrastate public offering makes this possible. It also allows us to return a portion of the development proceeds to Dakota Wind Energy members over a long-term period.”
All South Dakota landowners that reside within the project’s footprint may receive ownership units in Dakota Wind Energy. Landowners who grant wind-related rights to Dakota Wind Energy can receive either a traditional cash payment, or units in Dakota Wind Energy through this offering.
“Shared ownership is what makes Dakota Wind Energy different from traditional wind developers,” says Mark Lucas, Vice President of National Wind. “Most other developers do not offer ownership; they only provide turbine lease agreements. In our wind developments, even if landowners do not end up with a wind turbine on their property, they still have the opportunity to own a part of Dakota Wind Energy. More than any other private offering structure, an intrastate public offering allows for the greatest number of local landowners to participate.”
Back in April, Dakota Wind announced it had put up two on-site meteorological towers to measure the wind regime in Marshall County, where part of the community-based wind project will be located.