People Power - New Breed of Solar Power in Ontario
Tuesday, February 26th 2013 9:00:16am
TORONTO, Ontario (Feb 26, 2013) GreenSaver and SolarShare Co-operative
GreenSaver and the SolarShare Co-operative have signed an agreement to develop a solar project on the rooftop of 32 Goodmark Place in Toronto. Both partners are not-for-profit corporations and the unique nature of this solar development is that it will be financed by Community Solar Bonds, allowing Ontarians to directly participate and invest in renewable energy. This is the first such project to be built in the City of Toronto. The GreenSaver and SolarShare partnership has an additional 1,100 kW in solar projects currently awaiting Ontario Power Authority approval.
“The idea of having two non-profit corporations building renewable energy by using community bonds allows ordinary Ontarians to invest, own and control their sustainable future,” said GreenSaver President and CEO, Vladan M. Veljovic.
“Working with the most experienced energy efficiency organization in the province, GreenSaver, is helping to make the solar bond idea a reality in Toronto and Ontario,” added Mike Brigham, President of SolarShare.
Karl H. Seeh, Chair of the Board of Directors at 32 Goodmark Place said, “We are proud to have the first solar bond project in Toronto at our building. Everybody was made to feel at ease in working with GreenSaver and SolarShare, and the project will help us to generate some badly needed revenue.”
GreenSaver is an independent non-profit organization dedicated to environmental energy efficiency offering conservation programs as well as other residential and energy services such as home inspections through its subsidiary HouseMaster Canada (www.housemaster.ca), as well as energy audits, insulation retrofits, and solar installations. GreenSaver has pioneered Ontario’s residential energy conservation for 25 years with economically viable and environmentally friendly measures to help individuals and organizations with their energy needs. (www.greensaver.org)
SolarShare develops solar power projects across Ontario and offers securities in the form of bonds to Ontario residents and businesses to invest in its solar project portfolio. Now with almost 470 members, SolarShare has 19 projects (over 780 kW) in operation, generating pollution-free, safe electricity for the Ontario grid. Incorporated in January 2010, SolarShare is a not-for-profit co-operative formed by TREC Renewable Energy Co-operative. In 2012, SolarShare formed an alliance with Bullfrog power, Canada’s leading supplier of green energy to homes and businesses. (www.solarbonds.ca)
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