First Local Renewable Energy Investment Opportunity in Ottawa
The Ottawa Renewable Energy Co-operative’s first share offering is open until August 27th. Residents of Ottawa can become members on the OREC website by purchasing a one time $100 membership share. Then, members may invest in the solar rooftop projects by purchasing preference shares. Preference shares are for 20 years, paying out dividends of approximately 5% annually plus a return of capital starting in year 5. Preference shares are $500, and a minimum of 10 may be purchased by one member.
OREC is part of growing worldwide trend, of community owned energy generation. Denmark & Germany learned long ago that electricity generation offers a stable revenue stream well suited to ‘pension type’ investments. Ontario is now following suite with the Feed-in-Tariff program and the promotion of Renewable Energy Cooperatives. OREC is one of the first Ontario Co-ops offering equity investment opportunities.
OREC’s initial projects are high profile rooftop solar projects on the roofs of housing co-operatives in Ottawa. These projects will be 10kW MicroFIT projects that will receive payment for 20 years from the Ontario Power Authority for the electricity they produce. Over time they will develop other FIT applicable technologies. They hope to be a catalyst in the area, encouraging local residents and businesses to build their own projects, spawning more employment, investment and renewable electricity.
Chair, Ecology Ottawa
Source: Ecology Ottawa (http://us1.campaign-archive1.com/?u=8ad03259f83284122b4c215dd&id=5c5c37d9e2)