Sustainable Ottawa has taken a leadership role in creating a new entity with the sole purpose of generating clean, renewable electricity. The Ottawa Renewable Energy Co-operative Inc. (OREC) was created to allow residents of the City of Ottawa to jointly own and finance renewable energy generation projects in their communities, and earn a reasonable return while doing so.
OREC provides an opportunity to invest in renewable energy for those without the time, money or space to invest in their own system. OREC also allows members to invest in larger community scale renewable energy projects. The Coop pools investment from its members to finance renewable power systems and provides a financial return by selling power to the grid under an Ontario feed-in tariff FIT or MicroFIT contract.
OREC is currently looking for member investors and for commercial property owners interested in renting or leasing rooftop space for community owned solar power systems.