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New way to invest in solar power now available in Ontario
A new opportunity to invest in solar in Ontario was announced today with the province-wide release of SolarShare Community Solar Bonds, $1000 bonds that earn 5% annual returns over a 5-year term. Developed by TREC Renewable Energy Co-operative, the SolarShare Co-operative is now offering bonds that are invested in a portfolio consisting entirely of solar electric power projects across the province, projects that are already constructed, producing power and generating stable long-term revenues under 20-year Ontario Feed-in-Tariff (FIT) contracts.
SolarShare bonds enable socially conscious investors to participate in an environmental initiative that positively impacts communities throughout Ontario. In an emerging ‘impact investing' market, where returns are measured not just by economic, but also social and environmental benefits, SolarShare projects provide local economic development, generate clean, safe renewable energy that tackles climate change, and pay a competitive rate of return to investors.
Eighteen solar installations in Ontario currently form the SolarShare Co-operative portfolio, totaling over 600kW of capacity and representing over $3.7million of investment, with yet more to come. SolarShare Community Solar Bonds allow all Ontario residents and businesses to become members and invest in solar through the co-op. Currently, investment is limited to one $1000 bond per member.
"The SolarShare bond release opens a door to everyone to participate in the solar economy in Ontario," stated Mike Brigham, President of SolarShare and Chair of the TREC Renewable Energy Co-operative. "SolarShare is designed for citizens who want to invest in solar power but don't have a suitable site or access to capital to install solar panels on their own property. All residents and businesses in Ontario can become SolarShare members and invest in the co-op."
Judith Lipp, Executive Director of TREC agreed. "TREC established the first renewable energy co-op in Ontario when over 400 citizens pooled their funds to build the iconic WindShare turbine at Exhibition Place in Toronto. SolarShare is the next evolution of community-owned power in Ontario. It exemplifies what the Green Energy Act and the Feed-in-Tariff program were designed to enable - profitable businesses generating green energy and green returns to the community."
SolarShare bonds are available on-line at www.solarbonds.ca.
Last Updated: Thursday, August 18, 2011 at 12:19:39 PM