Some information from Ecology Ottawa on an interesting opportunity in Ottawa to invest in renewable energy:
Have you been wanting to get involved in solar power but don’t have a sunny roof? Want to shift your long term investments into local, green investment options? You can do just that through the Ottawa Renewable Energy Co-op (OREC).
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.