Our 2017 Offering Statement successfully closed on July 27th, and now that the final transfers are coming in, we can proudly say that we have raised $7.5 million!
Over 150 members and investors took advantage of this opportunity to invest in line with their values. Their funds are now powering renewable energy generation, while earning market-beating returns. It feels wonderful to know that the sun is powering our financial futures!
CED Co-op President Brian Unrau shares the news in the video below, including how these funds are being used, and what’s next for CED Co-op.
Financing Our Co-op’s Future
While investments from this Offering Statement are backed by the full portfolio of projects, the funds are being used for both construction and acquisition.
Construction
The projects constructed with these funds include those in partnership with: Oakbridge Properties, the Erin Community Centre, Crystal Brook Farms, and Erb Transport. Last week we received Commercial Operation at Erb Transport which brings all of these projects to full completion. This means that our entire portfolio is operational, and generating electricity, and our contracts remain in effect.
Acquisition
We are also acquiring a portfolio of ground-mount microFIT projects in Northern Ontario known as the Azgard Projects. The owner of these 86 systems is based in Calgary, and as he moves into retirement he no longer wants to work long-distance. The documents are being signed and we expect to take ownership this fall.
What’s Next?
Project Opportunities
While there are no longer opportunities for us to apply for new FIT or microFIT contracts, there is still the opportunity for us to acquire projects that are already operational.
We are also excited about the Net Meter market. New regulations will be coming into effect in October that will allow third party ownership. This will allow our co-op to become a participant in this market. We are in the process of developing new business models for us to take advantage of this opportunity.
Investment Opportunities
We are planning to begin work on our next Offering Statement this fall, with the intention of opening in early 2019.
In the interim, we do have an investment opportunity open. We are continuing to offer our Bonds Series O1 – that’s our 3-year bond delivering a 4.5% return. Unfortunately, in between the time when we have Offering Statements in effect, the cap on investment is $1,000 per investor, per year.
You can find more information, and the Investment Subscription Agreement, on our Invest page.
As always, please contact us with any questions or concerns about your investments, or simply to chat about renewable energy. We love hearing from our members.
Wishing you sunny skies!
