TORONTO, Ontario (July 8, 2013) SolarShare Co-operative Inc. –
With another 4.9 MW of projects to be added to its portfolio, the SolarShare Co-operative is poised to become the largest renewable energy co-operative in Canada. Last week the Ontario Power Authority awarded SolarShare with conditional feed-in tariff contract offers on 13 new rooftop solar projects in Ontario, enough to power 700 homes.
“We are very pleased to have almost half of our applications approved,” says Mike Brigham, SolarShare President. “The expansion greatly increases the opportunity for citizens of Ontario to become direct investors in solar projects. We will succeed in seeing renewable energy becoming a majorpart of Ontario’s electricity generation mix. It’s not if, it’s when.”
Renewable energy co-operatives are a form of community power supported by the Green Energy Act and Feed-in tariff programs, which enablecitizens to earn social, environmental and economic returns on clean energyprojects in their regions.
SolarShare currently owns 750 kW of solar energy capacity on the grid and is pursuing another 5 MW in previous contracts, bringing the portfolio to over 10MW once all build-out is complete. For a co-op that began with a few small projects in farmers’ fields in 2010, the prospect of being the largest co-operatively owned independent power producer in Canada is thrilling to its 500 member-investors. Collectively they have invested $2 million. One SolarShare member, Jane Story is excited about the expansion. She said, “Putting my moneyinto solar is an investment not only for my own retirement, but for the futures of my daughter and future grandchildren. SolarShare’s 5% return makes it a win-win.”
The new solar projects will be located in Toronto, Mississauga, Brampton, Markham, and Vaughan. SolarShare looks forward to engaging new members in those communities.
SolarShare develops solar power projects across Ontario and offers securities in the form of bonds to Ontario residents and businesses to invest in the project portfolio. SolarShare currently has 19 projects representing over 750 kW ofinstalled solar power generation capacity. Incorporated in January 2010, SolarShare is a not-for-profit co-operative formed by TREC Renewable EnergyCo-operative. www.solarbonds.ca