Chairman of Hepburn Wind Simon Holmes a Court said the organisation wanted the project to be "within the reach of as many locals as possible".

"All of us involved in Hepburn Wind have never lost sight of the fact that this is a community project," he said.

"Before we close off the fundraising we wanted to be sure that participation was within the reach of as many locals as possible."

Mr Holmes a Court said the $1000 minimum would remain for non-locals.

The project is working towards building two wind turbines at Leonards Hill that will provide enough energy to power most of Daylesford and Hepburn Springs.

There are currently 780 investors from the community, throughout Australia and overseas, with 90 per cent of the $11.5 million needed for the project already raised.

Deputy chairman Koos Hulst said the $100 minimum for locals would help membership pass the 1000 mark.

"(And) while the community can be proud of leading Australia towards a carbon-neutral future, on a more tangible level the project will contribute more than $1 million over the next 25 years to a Community Sustainability Fund," he said.

"Grants will be available to programs with an emphasis on community and sustainability.

"Members will also receive dividends from the sale of energy."

The project is in negotiations with an energy retailer to allow locals to buy power from the wind farm.

Hepburn Wind was originally due to close its share offer on October 31 last year but extended it to December 12 and then kept it open.

In November last year Mr Hulst said $2.5 million had been raised with at least another $2 million needed.

It is believed the company will take up an offer from Bendigo Bank to provide $4.5 million towards the project if needed.

A number of Leonards Hill residents do not want the project to go ahead saying the turbines will create problems including excessive noise, visual pollution and lower property values.