In September, the Ottawa Renewable Energy Cooperative was awarded four new contracts through Ontario’s fifth and final Feed-In Tariff round of contracts. Already Eastern Ontario’s largest renewable energy co-operative, these projects will increase the Co-operatives solar energy capacity by 1.65 MW over the next two years, bringing the total capacity to 3.35 MW.
Two of these contracts will be rooftop systems and are projected to be built in the summer of 2018. They will be located on the rooves of two new schools in the Centre-East French Catholic School Board (CECCE), carrying on the Co-operative’s fruitful partnership with the school board. The first project will be built on Mer Blue High School in Orléans (400 KW), while the second will be on Paul-Desmarais High School in Stittsville (250 KW).
The remaining two projects are ground mount contracts, and will be completed by 2020. These two projects are both located near the village of Munster and will increase solar capacity by 500 kW each. The Co-operative will continue to work with GP JOULE as the engineering, procurement, and construction contractor.
The Ottawa Renewable Energy Co-operative will launch its sixth round of securities in early 2018 to finance the next phase and make these projects a reality. Residents of Eastern Ontario will once again have an opportunity to positively impact their community by investing in community-owned solar power projects close to home.
This newest investment opportunity will be resemble past offerings, comprising of both Preference Shares and Member Investment Notes.
The ground mount projects are solely owned by the Co-operative whereas both roof-mounted projects, are financed 50/50 with the school board.
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