Hepburn Wind chairman Simon Holmes a Court said it had received applications for shares worth more than $1 million in just five weeks.

"We are delighted to have hit this important milestone so early, showing there is great support for this unique investment opportunity," he said.

"We expect the rate of share application to increase markedly from here to the end of the offer period."

The first share offer was launched in Daylesford on July 26, with developers seeking about $9.5 million in community investment to build the two-turbine Wind Park at Leonards Hill.

The project has also received a $1 million grant from the Victorian Government's Renewable Energy Support Fund.

It is expected to create enough renewable energy to power about 2300 homes, almost all of Daylesford and Hepburn Springs, by 2010.

Mr Holmes a Court said he was pleased that the majority of the investors to date were from the local Hepburn Shire area, although many applications were received from all over Australia and even internationally.

"This again confirms the extent of community concern about climate change and shows that people want to support projects that will not only provide them with a reliable financial return but also help secure Australia's future energy needs," he said.

Future Energy managing director and project developer David Shapero said community owned and managed wind farms were already common in Europe and the UK.

"Now we are seeing Australians strongly embracing the concept," he said.

"The share offer is open until the end of October and we will give priority to local investors if the offer is oversubscribed."

The share offer document is available at www.hepburnwind.com.au and printed copies can be obtained on request by emailing info@hepburnwind.com.au.