community-based renewable energy down under

http://journalism.nyu.edu/pubzone/theoryb/node/713

An interesting Australian company, Jackgreen, has been pioneering the concept of small “community-based” energy projects Down Under. This system, based on a European model, seeks to generate power for communities locally, through such means as wind farms. Community-based projects now account for up to 20% of energy in Denmark, and are popular due to community ownership.

Jackgreen has been developing small wind farms of 3 to 20 megawatts, which communities would have an ownership interest of 10 to 50%. Community ownership will be determined by the size of the wind farm and level of community support.

The company has attracted enough attention that a major Australian investment bank, Babcock & Brown, has recently decided to invest in the company and become its second-largest shareholder. Shares of Jackgreen have been on the rise for the past six months, and are sure to rise on news of Babcock’s investment. With substantial corporate funding, community-based energy projects may become as popular in Australia as they are in Europe – which would indicate that this model may have a future in the U.S. as well.