Grassridge Wind Farm
The wind farm project committed 1.5% of its total revenue towards socio-economic development and 0.6% to developing local enterprises. The Grassridge Winds of Change Community Trust holds 26% of the shares in the project company.
More info on the project website http://www.innowind.com/grassridge/
The Grassridge Wind Farm is a 61.5 MW project comprising of 20 Vestas turbines. The Department of Energy approved the project in Round 2 of the REIPPPP. It is situated on mining land close to Port Elizabeth (Eastern Cape) and has been fully operational since January 2016.
The wind farm project committed 1.5% of its total revenue towards socio-economic development and 0.6% to developing local enterprises. The Grassridge Winds of Change Community Trust holds 26% of the shares in the project company.
More info on the project website http://www.innowind.com/grassridge/
Community benefits
The Grassroots Youth Development (GYD) platform (developed by InnoWind) manages the local enterprise and socio-economic development commitments of the Waainek wind farm on behalf of the project company.
Between the 3 wind farms currently managed by InnoWind, GYD supports over 30 community-based organisations and has spent in excess of ZAR 5 million in 2015 – 2016.
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Community ownership
The Grassridge Winds of Change Community Trust holds a 26% shareholding in the wind farm company and will benefit from a steady dividend stream throughout the facility’s 20 years+ of operation.
These funds are being directed towards socio-economic initiatives within the communities surrounding the wind farm.
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