The £25m, 22.5 megawatt Rumbletonrig development is being built by TCI Renewables.
TCI says £4m could be generated for a community fund over 25 years, and that the local residents would be in a position to decide how these funds are managed and spent.
The project could generate enough green electricity to meet the annual average needs of around 13,440 homes, equivalent to 26% of homes in the Scottish Borders.
The firm says it could also offset around 25,250 tonnes of carbon dioxide emissions each year.
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The proposals for Rumbletonrig are still at a very early stage of development. A planning application to construct a wind monitoring mast is to be submitted to determine the most effective turbines for the site and provide information on the energy yield in the area.
Paul Beale, Project Manager for TCI Renewables, said: "We are committed to ensuring that the local community is given the opportunity to benefit significantly from Rumbletonrig Wind Farm by participating in its success.
"The community’s share of the wind farm profits could provide an income that is 40% more than the Scottish government’s recommended target for community benefit of £5,000 per megawatt and nearly three times the level typically received from operational wind farms in Scotland.
"Depending on the amount of electricity produced the sum for the local community could be higher still. Rumbletonrig Wind Farm provides an excellent opportunity to deliver tangible long-term economic, social and environmental benefits to the local area."
(IT)
