SolarShare Community Solar Bonds to invest in solar power now available in Ontario
August 12, 2011 – Ontario has announced a province-wide release of SolarShare Community Solar Bonds–$1000 bonds which earn 5% annual returns over a 5-year term, it describes. 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,” it said.
“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,” said the government.
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, confirmed the province.
“The SolarShare bond release opens a door to everyone to participate in the solar economy in Ontario,” said 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,” she continued.
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