cedif management website - Chebucto Windfield Inc.

Chebucto Wind Field Inc. is a community economic development corporation operating in Halifax Regional Municipality, established to make investments in renewable energy and, in particular, wind power development in Nova Scotia. The business rationale and core guiding principles of the company are as follows:

That there is tremendous potential for wind power development in the province of Nova Scotia, given our superior wind regime.

That there are strong prospects for financial growth in the wind industry as the costs of harnessing the wind resource continue to decrease, making it increasingly competitive in relation to traditional electrical generation.

That the economic benefits of developing the wind energy resources in Nova Scotia should remain in the local communities, through community ownership of the wind energy infrastructure.

That Nova Scotians have a responsibility to improve the energy production mix in the province by reducing the quantity of carbon dioxide and other pollutants released into the environment by electricity generation.

That Nova Scotian businesses and consumers should have the right to choose to purchase energy produced from renewable sources and that many will choose to do so within a competitive pricing framework

The company itself does not directly own and operate wind turbines; rather it invests in companies that do, either in the form of share ownership or as direct equity investment in projects. Chebucto Windfield raises investment capital within the framework of the Community Economic Development Investment Fund (CEDIF) program that is promoted and regulated by The Nova Scotia Securities Commission. This program encourages Nova Scotians to invest in business enterprises within the province by providing significant provincial tax credits to investors in CEDIF companies. Investors in Chebucto Windfield may also choose to gain further tax benefits by holding their investment in an RRSP.

In 2006 Chebucto Windfield purchased 30,000 treasury shares of Renewable Energy Services Ltd, a company which has several turbines in operation in the province under contract to Nova Scotia Power, as well as developing wind projects in western Canada. In 2007, following shareholder approval at the Annual General Meeting, Chebucto Windfield purchased 375,000 shares in Scotian Windfields Inc (SWFI), a new company involved in wind power project development which will act as the principal operator for the 8 companies around the province that comprise the Scotian Windfields family.

The Chebucto Wind Field team is a well rounded group of professionals with a tremendous depth of experience in business, engineering, science, risk management, investment, finance, environmental management, administration and the public sector.