Wind Hydrogen - chaired by a former NSW premier, Neville Wran - is offering 60 million shares at 20 cents a piece, to raise $12 million.

The company has a provision to issue a further 15 million, should it want to raise another $3 million.

Wind Hydrogen has plans for 19 wind farms in the UK and one in Australia, with a capacity of 350 megawatts.

The 40mw Woolsthorpe development in Victoria the company's only Australian offering.

Woolsthorpe, north of Warrnambool, is being assessed by the Victorian government, and Wind Hydrogen hopes for a positive ruling later this year.

If Woolsthorpe gets development approval, Wind Hydrogen expects to have the wind farm operational by no later than mid 2010.

Apart from its wind assets, the energy company has also patented hydrogen electrolysis technology in the US and UK - which is under development.

The company says the technology could be used with the wind projects, taking the energy output of the farms to produce hydrogen.

The hydrogen would then be used as fuel to generate electricity.

The company said it would take about five years to commercialise the technology.

Mr Wran said there was considerable scope for such technology because of the growing concern over global warming.

"Innovation is an important element in a developing society, and as we have seen, from recent evidence of global warming, there is considerable commercial scope for innovation in the renewable energy and clean fuels arena," Mr Wran said.

Applications for the float close on July 15, with the intended listing date August 10.

Wind Hydrogen was founded in the UK in 1994, and incorporated in Australia in 2005.