WindMineEnergy, Industrial, Investment
The Windmine project aims to build a state of the art wind park facility near Liepaja, Latvia. The wind park will consist of 15 Wind energy turbines (Enercon E-126 EP3 4MW with 86m HH) with a total capacity of 60 MW. The project has an estimated cost of 65 MM EUR and a construction time of one year.
The team behind Windmine has taken an innovative approach to fund the project, via an STO (Security Token Offering) and a token issued on top of the Ethereum blockchain backed by a Liechtenstein PCC. The structure of the token is most similar to that of a convertible note, whereby for the for the first 9 years, the capital raised is essentially treated as a loan (with interest and principal payments). Upon expiry of the 9 years the remaining principal can be converted to shares in the company at the current fair market price valuation.