The Ottawa Renewable Energy Co-operative, incorporated in 2010, has continued to grow as a local, green investment opportunity in Eastern Ontario. We strive to provide residents of the area with the chance to diversify their portfolios by investing in renewable energy development in their own communities. With a growing portfolio and membership, the Co-operative continues to expand its horizons every year, while staying true to its grassroots origins.
Vision & Goals
In a thriving integrated co-op economy, OREC is a significant leader in providing Eastern Ontario with clean, community financed energy that has transformed the region to 100 percent renewable energy.
The Co-op’s goals are:
- Generate decentralized renewable energy in Eastern Ontario. By 2020, own a full range of renewable energy generating sources across Eastern Ontario.
- Create a democratic, self-reliant, environmentally, socially and financially sustainable co-operative business model for community power in Eastern Ontario. By 2020, increase membership to 5,000 from all parts of Eastern Ontario.
- Provide a fair return to residents of Eastern Ontario who wish to invest in local renewable energy production and energy efficiency. Pay the best possible dividend yearly on co-operative member equity investments.
- Increase the accessibility of investments options and awareness of renewable energy production and energy efficiency. Be a strong voice in Eastern Ontario for renewable energy through education, workshops, social media, and advocacy.
- Advocate for hospitable policy climates that facilitate community owned and financed renewable energy and other forms of sustainable technology in Eastern Ontario.
- Partner with other organizations, companies, and government agencies to achieve our vision. Work with the City of Ottawa on a 100 percent renewable city strategy. As part of the Ottawa Co-op Network, help build and finance a thriving co-operative social economy in Eastern Ontario and a social finance support and finding portal.
Governance & Policies
- OREC’s projects are democratically governed through a co-operative model, which strengthens community engagement.
- Members of OREC are residents of Eastern Ontario older than 16 who have purchased a member share and whose membership has been approved by the board of directors. Every member has one vote and may run for a position on the board.
- The Board is made up of up to seventeen directors who are elected by the members at the annual general meeting. Directors serve for three-year terms and are not remunerated. The Co-op holds director and officer insurance for the activites of the board. The board is responsible for contracts, projects, reserve funds, dividends and surplus distribution, and borrowing.
- Advisory committees have been formed to advise the board on business, technical, and communication issues.
- OREC is incorporated as a Renewable Energy Co-operative with share capital under Ontario’s Co-operative Corporations Act and operates under Bylaws that are reviewed by the membership at each Annual General Meeting.