EARLTON (Staff) — Green Timiskaming is holding a launch of a new proposed community solar project on Friday, December 5, and Saturday, December 6.
Green Timiskaming chair Ambrose Raftis explains that Green Timiskamng is a not-for-profit community venture modelled on similar developments that have been practiced in Finland, Sweden and Holland.
Green Timiskaming is developing community-owned solar energy projects as part of a community development strategy, and has applied for, and received, preliminary approval from the Ontario Power Authority to proceed.
Green Timiskaming Community Solar Launch will take place Friday, December 5 at 2 p.m. at the Earlton arena, followed by a reception.
An open house will be held on Saturday, December 6, from 10 a.m. to 3 p.m. at the Holiday Inn Express in Temiskaming Shores.
The first of the solar projects is a 250-kilowatt installation on the Earlton arena. An additional nine 500-kilowatt projects are planned in Chamberlain Township, north of Englehart.
Mr. Raftis told The Speaker agreements from the landowners have been reached, and the land on which the nine 500-kilowatt projects are being placed is land that is not being used, or is being under-utilized.
Each of the nine 500-kilowatt installations will be five acres in size, and they are on nine different pieces of property, said Mr. Raftis.
Green Timiskaming is also applying to do more projects in Evanturel Township.
BONDS
Green Timiskaming is offering Northern Solar Bonds which potential investors can purchase.
“Each project will be tied to a 20-year contract with Hydro One to purchase the power,” according to a press release from Green Timiskaming. “The proceeds generated by the contracts will be used to cover all operating and finance costs including the returns on Northern Solar Bonds. Surplus funds are earmarked for future community development projects. Community Owned Solar Projects offer local investors the opportunity to gain financially through the purchasing of Northern Solar Bonds. The bonds will provide strong long-term financial benefits associated with the production of renewable energy.”
Green Timiskaming has 240 members from Temagami to Kirkland Lake, said Mr. Raftis, and is continuing to build its members.
To learn more, visit www.greentimiskaming.ca.