Group wants wind energy in Saskatoon
Published Saturday, February 23, 2013 6:07PM CST
Last Updated Monday, February 25, 2013 1:49PM CST
It’s no secret that Saskatchewan is windy, and Saskatoon Community Wind Group wants to put that untapped power to use.
The group wants to build 10 wind turbines roughly 15 to 30 kilometers outside the city, and they’re looking for investors to join the project. They want to create a wind farm that would be funded and owned by Saskatoon citizens without costing taxpayers. They need a lot of investors to help cover the $43 million price tag.
“Forty-three million dollars is a lot of money, but you split it up by the number of investors that would be required. It would be between five and 20 thousand investors who would contribute around $2,000 each,” said James Glennie, founder of the Saskatoon Community Wind group.
The group believes that by selling power to the City of Saskatoon, the farm would be able to power 1,600 homes. By selling to the city, the group estimated that the wind farm will provide a return of roughly $2 million to shareholders through dividends and interest payments.
Glennie said that if they get a good response from the community, they’ll start wind testing and applying for permits.