OTTAWA, ONTARIO -- (Marketwired) -- 04/30/13 -- Bullfrog Power, Canada's 100 per cent renewable energy provider, and the Ottawa Renewable Energy Co-operative (OREC), a member based organization developing community based renewable energy projects, announced the start of a new partnership to advance renewable energy in the Ottawa region at last night's Solar Soiree. The OREC event was also the occasion for OREC's announcement that it will be investing in its largest renewable energy project to date.
"Community ownership is a growing trend and a critical aspect of the successful development of new renewable energy projects across the country," said Ron Seftel, Senior Vice President, Operations, Bullfrog Power. "Partnering with OREC is an important part of Bullfrog's commitment to helping advance the renewable energy movement in Canada."
Bullfrog Power uses the collective demand of its customers to support the development of local green energy projects in Canada. Bullfrog Power offers a green electricity and green natural gas choice to homes and businesses across the country. Bullfrog's generators inject clean, renewable energy onto the grid or pipeline to match the amount of power or natural gas bullfrogpowered homes and businesses use. The organization enables Canadians to reduce their environmental impact and support the growth of green energy development in Canada.
Through this unique partnership, Bullfrog will be supporting the growth of renewable energy in the Ottawa region by providing much needed financial support to OREC as they grow their membership and seek out additional renewable energy development opportunities in the community. OREC enables residents in the City of Ottawa to jointly own and invest in renewable energy generation projects in Ottawa and earn a reasonable rate of return.
"The partnership between OREC and Bullfrog is a natural fit," says Roger Peters, OREC's Board President. "OREC provides the opportunity to invest in new renewable energy in your community and Bullfrog provides the option of reducing your environmental impact by choosing 100 per cent renewable energy for your home or business. At the same time, we are both working to bring about a transition to a renewable energy future-and we both agree that this transition starts in the community."
OREC's most recent project is a 26.6 per cent ownership stake in a 250 kW solar rooftop project in Dunrobin, located in the west end of Ottawa. The project is located on a purpose-built storage building and is ideally situated to take full advantage of the sun's energy. The project is a partnership with the micro-utility division of Canadian green real estate development company, Windmill Developments. Producing green power since mid-February, the solar project is situated close to an outdoor education centre with whom OREC will collaborate to provide an opportunity for high school students to learn about green energy.
The Dunrobin project builds on OREC's recent successes. During its first share offering in the summer of 2012, OREC received nearly $1 million of investment from local Ottawa investors within three months. These successes speak to the high demand for both renewable energy and ethical investment options. In less than two years, OREC has achieved a membership of more than 160 individuals from across Ottawa and aims to grow its membership to 500 by the end of 2013. With the support of Bullfrog Power, OREC looks to continue to build on these accomplishments, growing its renewable project portfolio, creating a critical mass of members and supporters across the Ottawa region, and ensuring the co-operative's success over the long-term.
About Bullfrog Power
Bullfrog Power, Canada's 100 per cent green energy provider, offers renewable energy solutions that enable homes and businesses to reduce their environmental impact, support the development of green energy projects in Canada and help create a cleaner, healthier world. As a Certified B Corporation, Bullfrog Power meets higher standards of social and environmental performance, transparency, and accountability. Thousands of Canadian homes and businesses are doing their part to address climate change and air pollution by switching to green energy with Bullfrog Power. Homes and businesses can sign up easily, quickly and affordably at www.bullfrogpower.com.
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Founded in 2010, the Ottawa Renewable Energy Co-op (OREC) was one of the first renewable energy co-operatives in Ontario. A social enterprise designed to facilitate community ownership over local renewable power production, OREC provides an alternative for those without the time, money, or space to invest in their own solar power system, and generates a fair return for investors. OREC's projects support local industry and job-creation, expedite Ontario's transition to a clean energy economy, and increase self-sufficiency and resiliency of local communities.
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