If you can sell enough of your production forward at today's price you can finance the capital expenditure.
This is achievable by putting a legal wrapper around the project and repaying the capital not in cash but in the form of energy at today's price. The legl wrapper for this is not a company or even a trust, but a new UK corporate vehicle called an LLP.
Such "asset-based" finance (based upon asset ownership as opposed to borrowing which is "deficit-based" finance but usually "asset-backed" by a claim over the borrower*s assets) completely changes the economics.
It gives investors a new asset class, and allows developers to fund interest-free - in fact, who needs developers anyway? No reason why a community couldn't use the model, as the Danes pretty much do.
Best Regards
Chris Cook "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
A large chunk of the wind sector is indeed financed that way. In the long run, we're all dead. John Maynard Keynes
