For many writers, artists, designers, and entrepreneurs, crowdfunding is the latest way to get their projects financed. East River Electric Cooperative, a supplier of electric power for rural areas of South Dakota and Minnesota, has taken this model to a new level. The cooperative wanted to add more wind power to its portfolio, so it crowdfunded from the communities it serves to finance a portion of a wind farm project. With investments from more than 600 East River customers, the co-op purchased more than 10 megawatts of capacity at the Crow Lake Wind project, just east of Chamberlain, South Dakota.
This information was last updated on 10/21/2013