OREC exists to empower Eastern Ontario residents to support the growth of the local renewable energy sector through responsible long-term investments that finance projects together as members of a democratic co-operative.
A Proven Model
Much of the clean energy transition to date has been driven by a bottom-up approach. Though new to Ontario, community-level renewable power co-operatives have been quite successful in Europe, with over 50% of the renewable power in Germany being generated by co-operatives or farmers. (Read more about our co-op governance)
We partner with local property owners to use their land or rooftops for community-owned renewable power projects, entering into 20-year lease agreements that protect the interests of both parties over the long-term. (Read more about how it all works)
Eastern Ontario residents can become members of OREC and invest in local renewable power generation through the purchase of securities, which provide the capital to finance local renewable power projects, usually wholly-owned by OREC though some projects are co-financed through joint venture arrangements.
Each member of OREC may purchase between $2,500 and $250,000 in securities, which predict an annual return on investment in addition to a full repayment of capital over a 20-year period.
Successes to Date
During our four shareholder offerings to date (2012-2015), OREC received more than $5 million of investment from residents of Eastern Ontario. This speaks to the high demand for both renewable energy and ethical investment options. In less than 6 years, OREC has grown to a 600 strong membership across Eastern Ontario.
OREC currently has 13 built solar projects ranging from 10 to 400 kW installed on the rooftops of schools, non-profit housing, and private barns/warehouses around the city. Our solar portfolio totals approximately 1 MW of generating capacity.
If you’d like to be notified of our next shareholder offering, please sign up for our monthly e-newsletter (through the form on the right hand side of this page) and consider becoming a member, as membership in the Co-op is prerequisite for investment.