Northumberland WindField

Click here to Invest in Northumberland Wind Field

Click Here for An Important Note from the Board of Directors of Northumberland Wind Field, January 2010

About Northumberland Wind Field

Northumberland Wind Field is a community economic development corporation operating in Pictou and Antigonish counties, established to make investments in renewable energy and, in particular, wind power. The corporation is governed by a community board of directors that manages local investments in projects that meet their community economic development plan and will raise funds using the Community Economic Development Investment Fund (CEDIF) initiative in Nova Scotia.
The current board of directors consists of Sharon Henderson- President, Don Butler- Vice President, Tara Morin-Buchanan- Secretary-Treasurer, and directors Mike Reddick, Bill Teague, Margaret Ann McFarlane-Leil, Phil Wyman.

About Scotian WindFields
There is a network of Wind Field corporations being established in communities around the province and, collectively, they are referred to as The Scotian WindFields. This network serves to create a collective identity and to benefit from collaborative action.
The Wind Fields have operating partnerships with Nova Scotia-based companies which will afford them the ability to participate in wind field exploration and development.
About Community Economic Development Investment Funds (CEDIF)
A CEDIF is a pool of capital, formed through the sale of shares (or units), to persons within a defined community, created to operate or invest in local business. It cannot be charitable, non-taxable, or not-for-profit, and must have at least six directors elected from their defined community. In addition to the RRSP tax credit, CEDIFs provide a 35% tax credit on Nova Scotia taxes payable to a maximum of $17,500.00 of credit per taxpayer per year. Shares of a CEDIF are pre-approved for holding in a self directed RRSP.
The Department of Finance approves the offering as eligible for tax credit and upon receipt of a letter of non-object from the Nova Scotia Securities Commission a CEDIF Share Offering may be made.
On being a Board Member
A CEDIF must be governed by a group of six to twelve persons, six of which must be from the community the CEDIF represents. A president, secretary and treasurer along with the remaining directors manage the formation of the fund, the raising of monies and subsequent investments. Directors have responsibilities, not only in time, but in a corporate or fiduciary sense for their actions as board members.
Directors must pass an RCMP check, provide background information and may require bank and character references to perform the various duties associated with the raising of funds through the CEDIF vehicle. Board members will have a variety of backgrounds and experiences such as board development and leadership, community development, renewable energies, environmental stewardship, investment, banking, accounting, real estate, etc.
If you are interested in becoming a board member, please visit the Scotian WindFields web site address below or call us toll-free.
On Wind Power
There is a great deal of information on this topic, some of the most useful from the Canadian Wind Energy Association (CANWEA). CANWEA and its counterparts in the U.S.A. (AWEA) and Denmark (DANWEA) can provide in-depth information on all aspects of the wind industry, see their web address below. Also, through the links and articles on the Scotian WindFields site we cover economic and community benefits of Wind.
Investing in Northumberland Wind Field
Once a CEDIF has been established through the Securities Commission, shares can be sold to establish the investment pool. Potential investors must sign an Expression of Interest form to receive the Simplified Offering Document which provides details on the fund and any specific investments under consideration. The investor completes a Subscription Form paying for shares in one of three ways: by cheque, a transfer from an existing self-directed retirement savings plan (RSP), or through the creation of a new RSP.
Investments, as per the CEDIF program, qualify; as RRSP contributions, and for a 35% provincial tax credit.
Further Information
Public meeting notices, brochures and more information about Wind Fields and information about wind and renewable energy development are available online at: www.scotianwindfields.ca .
Information about Community Economic Development Corporations is available at the Department of Economic Development Website. You may also find the Frequently Asked Questions section on this site useful as well. www.gov.ns.ca/econ/cedif
The Canadian Wind Energy Association (CANWEA) is also a great resource for information : www.canwea.ca