This new cooperative will operate in partnership with SPARK SOLAR, an Ontario-based developer of renewable energy projects. SPARK SOLAR will manage the installation of the solar units and the day-to-day business operations.
‘The creation of this new solar cooperative will allow local ownership and our members the opportunity to invest and participate in the development of renewable energy within our own communities,’ says David Malott, AGRIS Solar Co-operative's board president. ‘Our goal is to construct, install and operate more than 1,000 solar units across Ontario, which will provide enough power for 20,000 homes annually.’
AGRIS Solar Co-operative will take advantage of the incentives provided in the Ontario's Green Energy Act and micro feed-in-tariff program. The cooperative is expected to have more than C$70 million in assets once the enrollment goal of 1,000 installations is reached.
Members will be asked to contribute $20,000 toward the capital cost of each installation of a solar module that is capable of generating up to 10 kW of nameplate power. Members will sell the electrical power generated to the Ontario Power Authority, which is contractually obligated to purchase the power for a period of 20 years at a rate of C$0.802/kWh.
SOURCE: AGRIS Solar Co-operative
