DomaCom partner to offer co-investment in Sapphire Wind Farm

DomaCom partner to offer co-investment in Sapphire Wind Farm
DomaCom partner to offer co-investment in Sapphire Wind Farm

DomaCom have been selected by developers CWP Renewables and Partners Group as their partner to implement the community co-investment initiative of Sapphire Wind Farm in rural New South Wales.

The Sapphire Wind Farm, in Kingsland New England in Northern New South Wales, will be an Australian first for its community co-investment.

DomaCom's fractional property platform will allow local community members to invest alongside institutional investors.

The platform allows multiple investors to aggregate their investments into an asset, typically a real estate asset, but now also renewable energy projects.

Andrew Dickson at CWP Renewables, the company behind developing and constructing the wind farm, said DomaCom is a great fir for the community co-investment initiative.

"Their online platform makes it very easy for people to establish and manage their investment," Dickson said, adding that after testing the community's interest late last year, he was surprised with the level of interest.

“With over $7.3m of pledges received so far from the local community, we are pleased to now be delivering on our promise to the community, to open up the project for co-investment.”

Ross Laidlaw from DomaCom said the company are excited about the partnership.

“We are very excited to be partnering with CWP Renewables and Partners Group in the Community Co-Investment Sapphire Wind Farm. DomaCom has been a pioneer in fractional investment in Australia now in its 5th year of operation.

"The Sapphire Wind Farm Community Fund is a clear demonstration of the vision of DomaCom taking large institutional assets and breaking them down into fractional components to allow retail investors to obtain exposure to an asset class not previously available.”

Construction of the wind farm began in January, and the final turbine was installed in October. 

Ben Haan from Partners Group, the investment fund manager that co-owns the project, said community investment is integral to the business.

"What we are pioneering at Sapphire will be applied to future Grassroots projects, allowing our communities to share the benefits and to invest in Australia’s renewable energy future," Haan said.

For more information on DomaCom click here.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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