On Friday, the Independent Electricity System Operator (IESO) stated that, under the direction of the Progressive Conservative Party, certain prospective Feed-In Tariff projects would be “winding down”. This will affect all projects which have not yet received the Notice to Proceed (NTP) from the IESO.
The Ottawa Renewable Energy Co-operative currently has four contracts which are scheduled to be cancelled. In November of 2017, the Co-operative was awarded four contracts as part of the fifth and final round of FIT contracts.
It is important to note that none of the projects already producing energy, of which the Co-operative has 17, will be affected by this announcement. The Co-operative was anticipating this reality, and has contingency plans in place to ensure that this has minimal, if any, effect on the investments of its members.
Among the contracts cancelled were two rooftop projects that were to built on Ottawa area high schools, Collège Catholique Mer Bleue in Orléans and École Secondaire Catholique Paul-Demarais. The other two projects were ground-mount projects that were to be built in the west end of Ottawa.
The Co-operative will also be applying for remuneration of the money spent thus far on the four contracts.
Despite this, the Ottawa Renewable Energy Co-operative is actively working towards developing projects through net metering, including the two aforementioned school-top projects. We are confident that this announcement will not affect the financial growth of the Co-operative, nor will it bear any impact on the investments made by members.
Please contact Aaron Thornell should you have any questions.