Oxford Community Energy Co-operative (OCEC) received great news last week – the Ontario Ministry of the Environment and Climate Change has given Renewable Energy Approval (REA) to their application for the 18MW Gunn’s Hill Wind Farm in Oxford County.
Through a partnership with Prowind Canada Inc., a Canadian corporation based in Hamilton, OCEC will add 10 wind turbines to Ontario’s energy supply, continuing an important trend towards both renewable energy and Community Power development in the province.
In fact, Gunn’s Hill Wind Farm will be the largest project with co-operative ownership to achieve REA in Ontario, and the involvement of the community has been there from the start. The co-operative was founded two years ago, and has since raised over $5 million through the sale of bonds and shares, with investors representing 138 households in the area.
In a press release, Alan Dale, Vice President of OCEC says,
“The Oxford Community Energy Co-operative offers Renewable Energy investment opportunities in a local project whose costs are known, where revenues are predictable for twenty years, and whose rates of return continue to be some of the highest available in Ontario.“
The co-op is still encouraging investment before April 21, with 5-year bonds offered at a 5.5% annual return, or 10-year preferred shares at a predicted 10% annual return, enabled by the Feed-in-Tariff program.
For more information about OCEC and the community of Oxford County, check out this video:
For more information about investment opportunities, join OCEC this Thursday, April 16, 2015, for an investor information session at the Woodstock Museum, 466 Dundas St, Woodstock, ON. If you can’t make it on Thursday, visit their website.