Bullfrog Power, Canada''s 100 per cent green energy provider, announced today that it is partnering with SolarShare to bring more clean, renewable solar energy to the Ontario electricity system. Through the agreement, Bullfrog Power will provide financing to SolarShare, a not-for-profit co-operative that allows Ontario citizens and businesses to invest in community-based solar energy installations across the province.
"With the support of our growing community of green energy customers, Bullfrog Power has sourced from, or helped fund the development and expansion of, more than 40 renewable energy projects across Canada," said Tom Heintzman, President, Bullfrog Power. "Solar energy is clean, reliable and viable in Ontario, and we are thrilled to be working with SolarShare to play a pivotal role in advancing the development of new community-based solar PV systems."
Bullfrog Power is among a small group of strategic partners supporting the construction financing stage of SolarShare renewable energy projects. The funding is critical to support and accelerate the capital-intensive development phase of several new solar energy initiatives. SolarShare projects are guaranteed a long-term revenue stream under Ontario Power Authority contracts, and are opened up to community investment. Ontario citizens can purchase low-risk, five-year "solar bonds" that deliver a stable rate of return.
Through the partnership, Bullfrog will also assist SolarShare in marketing and selling bonds in local communities. It is an ideal partnership as Bullfrog Power provides Canadians a 100 per cent green energy choice, enabling them to eliminate their home''s emissions footprint and support green energy projects in Canada. As an investment opportunity in renewable energy, SolarShare bonds provide a complementary way for individuals to further support renewable energy development in Canada.
SolarShare president, Mike Brigham, said: "Bringing Bullfrog Power on board as a strategic partner with SolarShare represents a huge step forward for solar energy and the renewables movement at large. Bullfrog''s commitment will help to bring more clean energy onto our system, and supports the creation of new jobs in the emerging green economy."
Community-based renewable energy co-ops offer a unique opportunity for investors in that they are one of the only ways individuals can directly invest in local renewable energy projects, other than becoming a Bullfrog customer or putting solar panels on their homes.
The partnership was announced in conjunction with the launch of a new 572-panel solar array in St. Catharines, Ontario. The 140 kW system, developed on a previously unused commercial rooftop by Moose Power, will produce enough clean energy to power more than 14 homes annually, and represents the 19th installation in the SolarShare portfolio. In 2013, SolarShare will focus on further development of solar energy in Toronto, Peel and York Region. Information on solar bonds is available at www.solarbonds.ca.