The wind farm committed 1.5% of its total revenue towards socio-economic development and 0.6% to developing local enterprises. The Makana Winds of Change Community Trust holds 26% of the shares in the project company.
More info on the project website http://www.innowind.com/waainek/
The Waainek Wind Farm is a 23.6 MW project comprising of 8 Vestas turbines. The Department of Energy approved the project in Round 2 of the REIPPPP. It is situated on farmland just outside of Grahamstown in the Eastern Cape and has been fully operational since January 2016.
The wind farm committed 1.5% of its total revenue towards socio-economic development and 0.6% to developing local enterprises. The Makana Winds of Change Community Trust holds 26% of the shares in the project company.
More info on the project website http://www.innowind.com/waainek/
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 Waainek 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 will be directed towards socio-economic initiatives within the communities surrounding the wind farm.
