About Us
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.
Timeline
Initial Meetings
The first meeting to discuss a renewable energy co-operative take place in the home of one of the eventual co-founders. At its core, the Ottawa Renewable Energy Co-operative had the belief that the people who see the renewable energy projects should be the ones who benefit and profit from them. For this reason, the initial geographic boundaries of the Co-operative were those of the City of Ottawa.
Co-operative Development
In the early stages of the newly formed co-operative, special care was taken towards developing the necessary legal and financial framework to make the endeavour a sustainable one. Support and consultation from other renewable energy co-operatives, as well a legal experts helps craft initial roof lease agreements and offering statements.
Incorporation
Launch of the First Investment Series
- Duration: 9 weeks
- Total investment: $991,000
- Projects financed: 6
The Co-operative exceeds its target of $500,000 over the course of a 9 week offering. These investments go primarily towards 5 microFIT projects that were built on co-operative and non-profit housing buildings.
Membership Reaches 100
During the series 1 investment offering, the Ottawa Renewable Energy Co-operative saw its membership grow incredibly. Prior to the offering, membership was at 60 people. By the end of the 9 week offering, it had reached 140+ members.
First OREC Project Comes Online
OREC partners with the Co-operative Housing Association of Eastern Ontario to install a 10 kW rooftop solar array on the roof of Eileen Tallman Housing Co-operative. This marked the beginning of a 20 year agreement under Ontario’s MicroFIT program.
First FIT Project Comes Online
OREC partners with Windmill Development Group to install 250 kW rooftop installation (FIT) on a Windmill storage facility in Dunrobin. This project is co-owned by the members of OREC and Windmill Development Group.
Launch of the Second Investment Series
- Duration: 26 weeks
- Total investment: $1,250,000
- Projects financed: 1
Launch of the Third Investment Series
- Duration: 27 weeks
- Total investment: $1,342,500
- Projects financed: 6
Launch of the Fourth Investment Series
- Duration: 26 weeks
- Total investment: $1,500,500
- Projects financed: 4
Expansion of Geographic Boundaries
At a special members meeting, the decision is made to expand the Co-operative’s boundaries beyond the City of Ottawa to include Eastern Ontario. This means that all those living in Eastern Ontario can now become members of the Co-operative, and invest in local renewable energy projects.
OREC Reaches $5 Million in Investment
OREC members invest $5 million over the course of four local solar investment offerings. The average investment is $13,300, demonstrating the widespread, grassroots support for renewable energy development.
Membership Reaches 500
Launch of the Fifth Investment Series
- Duration: 14 weeks
- Total investment: $1,988,500
- Projects financed: 4
Largest OREC Project Comes Online
The largest project in OREC’s portfolio, a 500 kW ground-mount installation in Alfred, ON, is connected to the grid. This project is unique in Canada. It is the first ever solar power project in the country to be co-owned by a co-operative and a First Nation. OREC partnered with the Keewaywin First Nation to make this innovative project a reality.
Launch of the Sixth Investment Series
- Duration: 7 weeks
- Total investment: $859,500
- Projects financed: 2
Vision & Goals
Vision
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.
Goals
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
Our Governance
- 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.
Our Policies
Collaboration Policy
Non-Member Loan Policy
Project Terms of Engagement Policy
Community Partners
Special thanks to the generous support of the following organizations:
We are grateful for the support and co-operation of the following organizations and initiatives as well:
