CWP Renewables is exploring a community model of investment that would allow locals to invest in the wind farm which is west of Glen Innes.

Chief Operating Officer CWP Renewables Ed Mounsey said the mechanics of the model are still being worked out but investment opportunities will be offered for up to $10 million.

“There are many options available to us but we are going to be working with local entities that have evolved community ownership models previously,” he said.

“It is a work in progress and we want a program that fits best with the Glen Innes and Inverell community.

“We will develop a prospectus that we can share with the community in good time that better details the opportunity.”

Mr Mounsey said the preferred model would allow anyone to be able to invest in the wind farm.

“The investment opportunity will be very open and there will be no rules around size of the investments, so mum and dad investors could share in the benefits alongside businesses,” he said.

“We would even offer the opportunity to the local councils so we are open to explore all of those avenues.”

However, Glen Innes Severn Council General Manager Hein Bassoon said current investment policy does not allow for this type of investment.

“We are dealing with ratepayer’s money so we would not look at this as a way of using that money,” he said.

“We would only look at investing in established financial institutions with solid ratings at this point in time.”

Business in Glen President Jim Ritchie said any chance locals have to invest in something that has a good return would be an opportunity locals should try and grab a hold of.

“If the returns they are offering are good then locals should look seriously at the offer when and if it is tabled,” he said.