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Tuesday, 26 November 2013 05:30

New Oxford Community Energy Co-Operative is seeing green

Creating green energy while creating some green for your wallet.

That's the dual-purpose goal of the Oxford Community Energy Cooperative.

They're currently looking for new investors who are also interested in joining the renewable energy movement.

The first investment of the co-op will be a 49% stake in the Gunn's Hill Wind Farm project in Norwich.

President of the Co-op Helmut Schneider tells Heart FM, "People will have the opportunity after the offering statement has been submitted to the Financial Service Commissioner of Ontario to invest in the project, and own part of the project.  The limit is set by your own comfort level.  We do have a goal of raising 49% of the equity of the project.  We're looking or approximately $10-million, but not only from Oxford County, that's going Ontario-wide.  But anybody from Oxford County that becomes a member of the co-op can invest in the co-op."

Schneider says it's too early to say what the projected return will be on the investment.  He says they'll be looking at other investments in the future as well including solar installations and biomass.

Renewable energy co-ops are a growing trend in Ontario, with nearly 100 of them established in the last 5-years.

If you're interested, there is an information night on Thursday at the Tillsonburg Library from 6:30-8PM.  You can also contact Co-Op Secretary, Christine Koenig 647-497-5480.

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