TATAMAGOUCHE: Plans have been completed by the Colchester-Cumberland Wind Field (CCWF) to sell shares to help finance a wind turbine project on Spiddle Hill.
Electricity from the project is expected to flow into the local distribution system, supplying energy to between 300 and 800 homes depending on the speed of the wind.
“This is truly a local community project,” said David Stevenson, president of CCWF. “Of our 70 plus shareholders 58 per cent are from Colchester and Cumberland Counties, with 30 per cent of them living in the Tatamagouche area. Our company has a project that plans to create electricity in 2011 from a renewable resource, which is a benefit to everyone.”
CCWF was also recently awarded a contract through Nova Scotia Power to become part of the province’s energy supply. The Spiddle Hill project is one of 10 community-based operations that will feed approximately 18.95 megawatts of renewable energy to the province’s grid.
“We were very pleased to have our project selected as part of this process,” said David Swan, past president of CCWF. “The Spiddle Hill wind turbine represents our community’s commitment to renewable energy. We see this project as the beginning of a greener energy future for our region.”
CCWF has completed the process with the Nova Scotia Securities Commission to sell shares under the Community Economic Development Investment Fund (CEDIF).
The program provides a provincial tax credit of 35 per cent on 2009 taxes for investments made in CCWF shares by March 1 of this year. Additional tax credits will become available in future years.
New shareholders must invest a minimum of $3,000, but cannot exceed the maximum of $50,000 within one year. The funds raised this year will be used to prepare the site for the turbine and to run the power line to the current distribution system along Route 311.
For more information on CCWF log onto www.ccwf.ca or contact the offering administrator by phone at 657-1064 or through e-mail at offering2010@dhse.ca.