OREC solar installation, Millenium, 2175 Robertson Rd., Ottawa
We are excited to announce the acquisition of four solar FIT projects in Ottawa and Muskoka to our growing portfolio. These existing rooftop installations range in size from 85 kW DC to 250 kW DC, with a combined capacity of 570 kW DC—larger than our largest single rooftop project to date! Together, these projects increase our production capacity by 10% and generate enough clean electricity to power 55 Ontario homes, reinforcing our commitment to renewable energy and community ownership:
Millennium (Robertson Road)
ReStore Ottawa (Iber Road)
Pride of Muskoka Marina (Bracebridge)
This acquisition marks another significant step in OREC’s mission to expand our portfolio of community-owned renewable energy assets. Acquiring existing projects, like these, plays a crucial role in our journey to foster a sustainable future, alongside developing brand new renewable energy projects. We're also finalizing a deal for a new build of about equal capacity—stay tuned for news in the new year.
The acquisition of this significant portfolio was made possible by investments from dedicated members through this year's 10th share offering. In 2024, we raised $1.1 million, including almost $600 K in August alone. Thank you OREC members! Your investment makes a direct contribution to decarbonizing Ontario's electricity grid.
We would like to extend our gratitude to Chris Gerhardt of The Redstone Company, our trusted acquisition advisory partner, for their invaluable support in making this acquisition possible.
For details on these projects, see our live projects page in MyOREC.
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