On 24th of October Sunly and the start-up KOOS.io initiated a program in Õru, Valgamaa, aimed at rewarding local residents who are willing and eager to participate, voice their opinions, and contribute their time to the development of Herro wind park, planned by Sunly.
Community members are offered virtual shares* in exchange for their participation and input. These virtual shares can be easily converted into cash, held until their value increases or throughout the wind park’s operation. There are numerous ways for community members to participate, contribute, and acquire virtual shares.
These virtual shares are registered on the KOOS.io platform. According to Taavi Kotka, CEO of KOOS.io, the power of success today lies in communities that engage in the development of ideas and projects, incl. providing feedback. “We must value locals who participate in the planning of power plants, and we are pleased that Sunly chose the KOOS.io platform to create this innovative solution. Participants can have a say in what tomorrow will look like for their community, and also benefit from it. It’s a real opportunity to influence the course of the wind park’s development while simultaneously investing in the future,” said Kotka.
Sunly’s Management Board member Erkki Kallas expressed at the opening meeting, “Communities where wind parks are established are all winners, because the national wind park levy is a significant source of income, both directly for the residents and for the local municipality. Such areas are becoming more common in Estonia, and we are grateful to those who help tailor wind parks to the community’s needs. Hence, to further appreciate the effort of local residents in participation, we are offering virtual shares for involvement in wind park development.”
Sunly introduced its new community engagement program in Estonia to residents living in the vicinity of the developed Herro wind park in Valgamaa first. However, they plan to do the same in many other communities in 2024 where the development of clean and cost-effective renewable energy production is underway.
Sunly has submitted an application to the Valga municipal government to initiate a special planning process for the launch of the Herro wind park. The planning involves a modern onshore wind park with 20 to 25 turbines, capable of generating 400 – 500 GWh of electricity annually, contributing to Estonia’s energy security.
* A virtual share essentially represents Sunly’s commitment to make payouts under the terms agreed upon in virtual share conditions. However, virtual shares are not shares in the company and do not confer any rights to acquire actual shares or any other shareholder rights.