€ 9 million citizen participation in wind farm Westermeerwind

Between 15 November 2018 and 31 January of this year, citizens of the municipalities of Urk, Noordoostpolder and former Lemsterland had the opportunity to financially participate via funds in the 144 MW nearshore wind farm Westermeerwind. Today, it was announced that 441 citizens have subscribed. Together, they subscribed for approximately € 9 million.

Citizens were offered two participation options, via the equity fund ‘Westermeerwind Leningenfonds and/or the equity fund ‘Westermeerwind Aandelenfonds’. The minimum investment was set at € 500. In 2013, a study was held amongst the inhabitants of the three municipalities. Based on the outcome, an estimation was made for the possible participation value for each funds.

Loan fund
The participation for the loan fund was estimated at € 4 million. The maximum value of the fund was set at € 5 million. In the end, 363 citizens subscribed to this fund, with a total value of € 5.9 million, 18 % more than anticipated. Subscribers will therefore be assigned 83,7 % of the requested investment. The minimum investment value of € 500 remains unchanged. The investment that is not assigned will be refunded to the participants. Participants are expected to eceive an annual interest rate of 6%.

Equity fund
145 citizens subscribed to the equity fund, against a total value of € 3,3 million. This is also higher than the anticipated € 2.5 million. The full subscription was allocated. This fund runs for a period of 17 years and has an expected investment return of 8 to 10 %. Participants can expect their first dividend payments at the end of March. This is followed by another one in October. After that, dividend payments will take place each year in October, providing the net profit allows so. The first interest payment is also in October.

Wind farm Westermeerwind, located in the IJsselmeer lake, is operational since 2016. It has 48 Siemens, type SWT 3,0-DD, generating enough power to provide around 160,000 households of electricity. Together with two other wind farms, it is part of the wind farm Noordoostpolder. Bron: Windpark Westermeerwind

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