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  1. Home
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  3. Good practices 
  4. Crowdfunding for an onshore wind farm project in Normandy
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Crowdfunding for an onshore wind farm project in Normandy

GreenRenewable energy
By project APPROVE
Published on 13 September 2019
Hélène Marlot
European Cooperation Officer
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Hélène Marlot

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About this good practice

In January 2018, with the agreement of 2 municipalities, the energy operator VALOREM launched a crowdfunding campaign to raise €100,000 from local residents (with a minimum amount for the collection of €50,000) to contribute to the funding of a wind farm (4 turbines - 8.8 MW).
The objectives were to:
- Foster the project’s strong local ties
- Encourage acceptance among local residents
- Enable residents to invest in the project and thus to enjoy some of the financial benefits.
Supported by the Tudigo crowdfunding platform, this operation took the form of single depreciable bonds, reserved for Normandy residents, with a minimum cost of €50 and a limit of between €2,500 and €10,000 per investor, depending on his/her place of residence (prioritising the most local residents). The interest rate is 4 to 5% and is paid on a half-yearly basis. In a month, the goal of €100,000 was reached.
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Resources needed

Resources for communicating about the crowdfunding campaign: communication provided by the online platform and by the developer/local elected officials toward the population to collect a max amount of funds from the citizens. However, the developer still has to provide an important part of the funds

Evidence of success

- Success of the fundraising (€100,000 in 1 month)
- Greater acceptance among residents who feel positively about the opening of two new wind farms in the area
- Significant image improvement for elected officials and the developer
- Financial benefits of the project for residents

Potential for learning or transfer

Almost all renewable energy projects are eligible for crowdfunding. The following resources are just needed:
- Regional planning to advise local elected representatives and local initiatives before and during the crowdfunding campaign
- At least one local elected representative to manage the project in the long term
- A developer open to crowdfunding
- A crowdfunding platform specialising in renewable energy (Tudigo, Landosphere, Enerfip, etc.)

Further information

Website

Website

Good practice owner

Organisation

Municipality of Tôtes (76), Municipality of Calleville-les-deux-Eglises (76), VALOREM, TUDIGO

France
Contact
Hélène Marlot
European Cooperation Officer
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Hélène Marlot

About text formats
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Summary

    Share

    Crowdfunding for an onshore wind farm project in Normandy https://www.interregeurope.eu/good-practices/crowdfunding-for-an-onshore-wind-farm-project-in-normandy
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