An Ottawa-based renewable energy organization is looking to raise a fresh round of financing so it can expand its number of solar power installations across eastern Ontario.
Since launching in 2012, the Ottawa Renewable Energy Co-operative has raised $5.1 million from investors and financed 13 solar rooftop projects in Ottawa.
Now, the co-op is looking to raise an additional $2 million for four local solar power projects: rooftop projects at the Twin Elm Rugby Park and KIN Vineyard in Carp, as well as a ground-mounted system in Alfred, east of Ottawa, and a rooftop system on a private building.
(Sponsored)
How Westboro’s female entrepreneurs are making it an attractive destination to live, work and play
When fitness guru Amber Stratton opened the first Pure Yoga studio in Ottawa in 2012, Westboro was her first choice. “The space we found was a really good starting point
How Westboro’s female entrepreneurs are making it an attractive destination to live, work and play
When fitness guru Amber Stratton opened the first Pure Yoga studio in Ottawa in 2012, Westboro was her first choice. “The space we found was a really good starting point
“The future of energy is distributed, renewable, and community-owned,” said OREC president Dick Bakker in a statement. “As renewable industry continues to grow it will increasingly reduce our dependence on big, centralized generation; making the whole system more stable, secure and affordable. Local, community ownership will be a key driver of this growth.”
OREC’s preference shares have 20-year terms and average a four per cent annual dividend, plus return of capital over time, according to the co-op. Member investment notes have five-year terms and provide a fixed three per cent annual return with the capital returned at the end of year five.
