The Ottawa Renewable Energy Co-op launches its fifth securities offering and is seeking to raise up to $2 million to invest in four local solar power projects. The Co-op’s latest projects include a rooftop project at both the Twin Elm Rugby Park and KIN Vineyard in Carp along with a ground mount system in Alfred, Ontario, and a rooftop system on a private building. These projects will start to produce power for the grid starting in June, 2017.
OREC’s previous four securities offerings raised $5.1 million, financing 13 solar rooftop projects in Ottawa – four of which are found on local French language schools.
“Working with the French school boards to install these solar projects has been such a pleasure. We are accomplishing our environmental and educational goals, while also providing a profitable, socially-responsible investment option for our members,” says Janice Ashworth, OREC’s General Manager.
Investments can be made by purchasing Preference Shares or Member Investment Notes and is open to all residents of Eastern Ontario who become members of the co-op. OREC’s preference shares have 20-year terms, are RRSP & TFSA-eligible, and average a 4% annual dividend plus return of capital over time. Member Investment Notes have five year terms and provide a fixed 3% annual return with the capital returned at the end of year five.
As opposed to a mutual fund where individual investors have little control, with a co-op, every investor becomes a member and has a vote in decisions that affect operations and investments.
Involving community members in wind-farm planning and ensuring nearby residents benefit from turbines would go a long way toward winning local buy-in for such projects, a new Canadian study concludes.
The study, published in a recent edition of the Journal of Environmental Policy and Planning, notes that fast-paced development and limits on local decision-making have resulted in strong opposition to wind projects. Those objections can be mitigated by the fair distribution of area benefits, the authors write.
Ma’ikwe Schaub Ludwig is the Executive Director of Dancing Rabbit Ecovillage, the pioneering sustainability educator who heads up Ecovillage Education US, and a member of the Board of Directors of the Fellowship for Intentional Community. She believes strongly that sustainability is possible, assuming we can learn to cooperate, share and assess what really makes us happy, rather than staying bought in to the material excess culture we’ve been raised in.
Co-operatives and Mutuals Canada / 16 October 2016
October 16 – 22 is Co-op Week in Canada. A time to celebrate and to reflect on the many advantages our co-ops and mutuals bring to our lives as members, as well as to the Canadian economy.
This Co-op Week, CMC joins a global campaign of co-operators from 15 countries (and counting) who are asking “what if” our co-op advantages were well understood by all people, and available to more people? What if… those who know what a successful co-operative can do to improve people’s lives shared the news and dispelled the misperceptions about co-operation? It’s a message of hope for economic progress and working together. Please add your voice.
Wouldn’t it be great if you could keep your energy dollars close to home, help create new local jobs and business opportunities, and provide greater energy security and price stability? That’s where community energy comes in. A growing number of people are discovering the many benefits of keeping their energy dollars circulating in their local economies.
Community energy reflects the idea that most of the power consumed in a locality should come from — and be owned and controlled by — the locality itself. Community energy initiatives based on local renewable resources are now emerging across the country. While these projects take a variety of forms, one common element is local ownership. Community energy encourages new ways of imagining our relationship with resources: Think local empowerment.
Brockville Recorder & Times / Sabrina Bedford / 04 October 2016
New community-owned solar power projects slated for development in Leeds and Grenville are at risk of not getting off the ground due to a lack of community support, according to an energy co-op.
The Ottawa Renewable Energy Co-op (OREC) has been actively developing new projects in Leeds-Grenville, however, the company says renewable energy cooperatives must now prove new projects have community backing.
David Mazur-Goulet, a spokesperson for OREC, said meeting the 50-member threshold is necessary to apply for Feed-in Tariff (FIT) contracts with the Independent Electricity System Operator (IESO) this fall.
Transition initiatives share many of the same goals as other groups, and works collaboratively with a variety of organizations in their local areas. Transition differs in that it focuses specifically on preparing communities for the changes associated with unprecedented resource depletion and transitioning away from fossil-fuel dependency.
The problem with fossil fuels, I’m becoming convinced, is more than just carbon pricing, but the lack of replacement pricing. The cost of coal, oil, and gas is based on extraction, and excludes not only the CO2 impacts, but the fact that we’re rapidly depleting a one-time energy windfall accumulated over 500 million years. At the rate of millions of years of accrual per present year.
— StarvingLion, Peak Oil News and Messages, 13 October 2015