Ottawa: Renewable Energy Co-op in need of solar investors

The Ottawa Renewable Energy Co-op’s Dick Bakker has told the Ottawa Citizen that they are interested in people who are willing to invest long term, for example in a 20 year project, in the shape of a bond or a debenture.

The feed-in tariff in Ontario enables small-scale energy generators to sell to the provincial grid at preferred rates. Subsidies are available for wind turbines and larger ones for solar power. The prices are varied but can reach a high of 80 cents per kilowatt-hour. The co-op offers $100 memberships and thereafter investors are able to buy shares in multiples of $5,000, with a ceiling of $100,000.

Bakker says, that they want to take investment money from citizens in Ottawa and invest it in the city of Ottawa. Money, jobs and energy thus stay in Ottawa. Bakker states that the size of the installation would depend on the money that comes in.

Bakker will be explaining the proposal today at 7 p.m. Ottawa time to interested parties at the Mayfair Theatre in the city. He will go through the FIT system and industry representatives will also be present for questions.