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South Dakota wind developer offers securities for land
NEW YORK (Reuters) - National Wind LLC's Dakota Wind Energy LLC development company publicly offered its securities to South Dakota resident landowners who grant wind-related rights to the company, the community-owned wind development company said in a release Friday.
Dakota Wind plans to develop over 750 megawatts of wind farms in Roberts, Marshall and Day Counties in South Dakota.
All South Dakota landowners that reside within the project's footprint may receive ownership units in Dakota Wind Energy, the company said.
Landowners who grant wind-related rights to Dakota Wind can receive either a traditional cash payment, or units in Dakota Wind through this offering.
The number of units offered to each resident landowner is dependent on the amount of acres subject to the wind easement granted by the landowner.
Dakota Wind plans to develop its projects in 100-150 MW phases up to a total of 750 MW. The company plans to build its first phase within the next three to five years.
"Most other developers do not offer ownership; they only provide turbine lease agreements," Mark Lucas, Vice President of National Wind LLC, said in the release.
"Even if landowners do not end up with a wind turbine on their property, they still have the opportunity to own a part of Dakota Wind Energy," Lucas added.
National Wind of Minneapolis, Minnesota, develops community wind energy projects and has over 4,000 MW in development in Minnesota, Iowa, North Dakota and South Dakota.
(Reporting by Scott DiSavino; Editing by John Picinich)
