Black Oak Wind Farm LLC, the team behind an 11.9 MW community-owned wind project in New York, says it has opened a new equity investment round for New York residents and companies to join existing investors in owning the project.
Financial consultancy Val-Add Service Corp. and developer Juhl Energy are part of the Black Oak team, which is aiming to build a wind farm featuring seven GE 1.7-100 turbines in the town of Enfield, N.Y. Tetra Tech Construction, based in Gloversville, N.Y., will build the project.
An AA-credit-rated institution is purchasing all the power output from the project for 10 years. The wind farm was also awarded a 10-year contract with NYSERDA for its renewable energy credits and qualifies for the federal investment tax credit. The wind farm is expected to enter commercial operation in fall 2015.
Black Oak says the new investment opportunity comes in two parts: The current round is open only to accredited investors in the New York, and there will be another round this fall for non-accredited investors as well. Black Oak adds it will be hosting meetings throughout the state to present people with in-depth information.
