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Gunn's Hill Wind Farm Reaches Major Investment Milestone

Friday, 24 April 2015 at 06:16

The Oxford Community Energy Co-operative has reached their fundraising goal of 49% ownership in the Gunn's Hill Wind Farm project

WOODSTOCK - The members of the Oxford Community Energy Co-operative have reached their fundraising goal to achieve full 49% ownership in the Gunn's Hill Wind Farm project.

Members of the Co-op were able to raise $8.9 million in investments required to move forward with this renewable energy project. 

President Helmut Schneider tells Heart FM $3 million of the funding came from residents in Oxford County. Schneider says this indicated to him many members of the community want to see this project move forward.

Oxford Community Energy Co-operative Inc. is a renewable energy co-op based in Oxford County. They were specifically developed to invite the local community to own up to 49% percent of the Gunn's Hill Wind Farm project and to continue to develop other renewable energy projects in Oxford County.

Schneider says they could get started on construction of the wind turbines in July and the wind farm will contribute $500 000 over twenty years to fund needed local community projects. The project is also expected to create about 200 jobs. 

Heart FM spoke with Director and share holder with the Oxford Community Energy Co-op Alan Dale earlier this month. Dale indicated he does expect an appeal from local opponents to the wind farm.

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