Funding progress for Solar Installation

LOBREC started selling Bonds is the summer to fund the installation of the Solar Panels on the roof of the Baysville Community Centre.   The Board’s goal for the first round of funding was $40,000.  Thanks to you we exceeded that goal. LOBREC had an amazing response from the membership and by the end of 2014 we have sold $70,000 in bonds.  See the progress thermometer.

​We have been offered a CEPP grant worth about $20,000 and we are also very excited to receive interim funding from Haliburton County Development Corporation for sufficient capital to be able to install the Solar system this spring.  We have begun the next round of Bond sales, and success here will allow us to pay down the interim funding and maximize the return to the community.  Please consider LOBREC Bonds as part of your ‘Green investment’ portfolio to help make this a smashing success.



Progress on the Installation Roadmap

We have made considerable progress towards the installation of the equipment on the Baysville Arena.   The most recent significant event was the ‘Notice to Proceed (NTP)’ by Hydro One.  This means that once the snow clears we will be able to install the solar panels on the Arena Roof and connect to the Grid.     Ontario Sustainable Energy Association (OSEA) has created a typical roadmap for installation, included here.   Our progress is shown on the Roadmap with Green check marks to show steps we have completed and Brown check marks to indicate those currently in progress.


While the detail may be difficult to read you can see that most of the typical steps have been completed and we are excited that we are on track to complete the installation this spring.    We have raised much of the funding required and have interim funding for the remainder to enable completion, however we are still selling bonds to repay this interim funding.   If you are interested in this ‘Green’ investment please check our our Bond Purchase information.

Report on 3rd Annual AGM August 16th 2014.

LOBREC’s 3rd annual AGM was held Saturday August 16th, 2014 from 10:00am to 11:00am at the Autumn Leaves Senior’s Centre in Baysville with coffee and solar baked cookies (Thank You Helen White!).

It has been a busy year.    We now have over 175 members and over $65K in bond sales.

If you would like to hear more, be sure to subscribe to our newsletter and follow us on Facebook and Twitter for updates and news about our first solar project on the Lake of Bays Community Centre roof.

Download the AGM Presentation (PDF). 

 

Momentum Builds! Initial Bond Sales Report

We are pleased with our bond sales over $65,000 and counting. As you know we have our FIT contract and project development is in ‘full steam ahead’ mode.

We are continuing to offer bonds, the next series with a November 30 settlement date to complete our first solar installation.  We have also arranged interim financing. The more bonds we sell the less money we need in interim financing!

Don’t miss out – check out the project and bond possibilities for yourself.  All prospective purchasers need to review the Bond offering Statement and Bond Subscription document. Both documents are available on the website. Let us know if you have any questions! info@lobrec.org

3rd Annual AGM August 16th 2014!

Come on out to LOBREC’s 3rd annual AGM Saturday August 16th. We will be at the Autumn Leaves Senior’s Centre in Baysville with coffee and solar baked cookies (Thank You Helen!) at 9:30 and the meeting will take place from 10am to 11am. It has been a busy year, come and hear what your Co-op has been up to and what lies in the year ahead! We have lots of exciting news to share. The meeting is open to everyone so come on down even if you haven’t joined us yet. Members bring a friend, or two! If you can’t make it be sure to subscribe to our newsletter and follow us on Facebook and Twitter for updates and news about our first solar project on the Lake of Bays Community Centre roof.

Ontario Votes for Solar!

Great News! The provincial election is over and the result is positive for our FIT contract and project development (in case you were unaware the conservative platform included cancelling solar and wind FIT projects.)

We have over $43,000 in bond sales already and are continuing to offer bonds with confidence to complete our first solar installation.

Don’t miss out – check out the project and bond possibilities for yourself. Directors recommend that all prospective purchasers review the Bond offering Statement and Bond Subscription document, both of which are available on our purchase bonds page.

LOBREC Bond Interest!

We are seeing good interest in LOBREC bonds! They do make great sense for people who are interested in being a member of LOBREC and who are 18 years of age and over.
First of all here are the essential components of the first issue of LOBREC bonds:

  • The principal sum for each Bond is $500.00
  • The term of each Bond is 10 years
  • The interest payable annually on the settlement date is 3.5%. (In year 1 interest on the Bond will accrue and be paid along with the payment due in year 2)
  • The settlement date for this series is still to be decided but is likely to be in May, 2014

LOBREC’s bylaws require that only members are able to hold a bond and members must be resident Canadians who are 18 years of age and older. LOBREC members can purchase any number of bonds and there is no restriction on the total amount of bonds any member may own.

Solar Supplier Chosen

In November 2013 LOBREC confirmed the selection of NorthGrid Solar as our provider of Engineering, Procurement & Construction (EPC) services for our first solar system installation in Baysville.

NorthGrid are now proceeding with the initial design work and approval submissions, with a targeted system operational date of Summer 2014.