Northumberland Wind Field Inc
has worked with a partner to build a 1.75MW renewable wind energy project in Avondale, Pictou County. The project will produce 1.75MW of sustainable wind energy for use in the local community. Building the project is contributing to the local community and economy through:
- its land lease
- future municipal taxes
- hiring local businesses for site preparation, road building and crane pad construction
- a demand for local labour through project maintenance
NWF will be conducting an offering of its common shares to raise the capital to build its COMFIT approved 2nd project on leased land on Fitzpatrick Mtn, Pictou County, Nova Scotia.
NWF raised capital through share offerings in 2006, and in 2007. Between 2006 and 2009, the company used some of the capital to invest in Nova Scotia renewable energy companies, several of which are currently in production.
NWF used the capital raised in the 2011 and 2012 Offerings to develop its Avondale site to foundation readiness by September 2012.
NWF will continue to raise capital to develop its own renewable energy projects. It does not intend to invest further in any other renewable energy company.