Friday, August 5, 2011
Middelgrunden Wind Farm
The Middelgrunden Offshore Wind Farm is a great model of co-operative enterprise to advance renewable energy, as is Samso Island, and other regions of Denmark, Germany, and even the UK in Europe. Examples exist in North America, Latin America, and Japan that I know of.
The wind turbine cooperative is established as a partnership. One share corresponds to 1/40,500 of the partnership. A
partnership has joint and several liability and it is the common model of ownership for Danish wind turbine cooperatives.
The Middelgrunden Wind Turbine Cooperative has minimised the risk of joint and several liability by not being able to contract debt in the partnership. This is ensured in the Bylaws, which maintain that the partnership cannot contract debt, and that the turbines must be adequately insured.
8.552 electricity consumers are co-owners of the wind farm, which makes the project outstanding. Most shareholders are
people living in Greater Copenhagen, but also some companies, organisations, unions and foundations saw the importance of participating in a highly visible and visionary project. E.g. the local chapters of The Danish Union of Teachers and The General Workers Union have bought shares to cover the electricity consumption in their own buildings.
see the rest of the article here: http://www.middelgrunden.dk/middelgrunden/sites/default/files/public/file/mg-pjece_72dpi_rgb.pdf