Moorefield Wind Project
Moorefield Ontario (Wellington County)
51% LIFE Co-op
49% Roubos Wind Energy Ltd.
LIFE has also embarked on its first wind project through its subsidiary, Moorefield Wind 1 Inc., which is co-owned with Roubos Wind Energy Ltd. The Moorefield project, located near Palmerston, ON, executed a 500 kW FIT contract in mid 2016, and the turbine was raised in October of that year. Due to electrical permits and connections the turbine did not start spinning until April 2017. LIFE is selling co-op shares in order to finance its equity purchase in the project - we are targeting an investment of $400,000 - with the remainder of the project debt financed through Roubos Wind, which has financed virtually the entirety of the project to date.
LIFE's return on investment is expected to enable us to issue dividends on this project in range of 5% per annum. Once the turbine is running, we plan to treat all our investment shares equally, to spread the risk among our solar and wind projects and to ensure that all investors are treated equally.