Frequently Asked Questions
- Who is GECO?
Green Energy Co-operative of Ontario is a renewable energy co-operative made up of community members across Ontario. Most of our projects and members are in the municipalities of Chatham-Kent, Oxford County (Woodstock), Middlesex (London), Hamilton and Halton.
- Who can become a GECO member or investor?
Membership is open to all residents in Ontario. A membership share can be purchased for $10. Upon receipt of FIT contracts, you will be provided with a full offering statement and the opportunity to make an investment in these community projects. Members are under no obligation to invest.
- How do I judge the investment?
The Offering Statement, once receipted by FSCO (The Financial Services Commission of Ontario) which regulates co-operatives in Ontario, gives true and plain disclosure of all facts relating to the investment opportunity. An Offering Statement will be available prior to investing. At this point, there is no need for an offering statement, as we first need to apply for, and receive, a FIT contract(s) with the OPA.
- How much do I need to invest?
Your initial investment is only $10, which provides you with a membership share. Members are under no obligation to invest anything further. Members will be approached with an opportunity to invest more only after our applications receive contracts from the OPA. At that point, if you choose to invest, the minimum investment amount will be $400. Currently, there is no limit on how much you can invest.
- Is the investment RRSP eligible?
We are attempting to have the co-ops’ shares registered as RRSP eligible, we will know the answer to this question prior to asking you to invest beyond the $10 membership share.
- What happens if I don’t invest?
Should you choose not to invest beyond your $10 membership share, you may remain a member of GECO, but you will not receive a return, since you have not invested.
- What are the risks in investing in a Renewable Energy Co-operative?
An investment opportunity is only presented to you after contracts are awarded by the Ontario Power Authority. Revenue risks are low since each community project has a 20-year power purchase contract attached to it with the Ontario Power Authority (OPA). These power purchase agreements have a fixed price guarantee for the 20 year period which makes for a more accurate predicted income stream. GECO is building a portfolio of projects in several municipalities, spreading performance risks across all of the projects.
- What is the expected timeline for project completion?
Project construction must be completed within 18 months of receiving the contract from the Ontario Power Authority.
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