Wascana Solar Co-op Announces New Class C Share Offering!
We are excited to announce a new share offering under our Solar Investment Opportunity program
Wascana Solar Co-operative (WSC) is excited to announce a new share offering under its Solar Investment Opportunity program, effective December 1, 2023. The capital raised through this share offering will allow the Solar Co-operative to secure additional spaces for solar power generation in the Regina area.
We are thrilled with the opportunity to progress towards a greener future for power generation in Saskatchewan. With this share offering, we aim to invest half a million dollars towards installing up to 500 solar panels on the roofs of public buildings and businesses in the Regina area.
The Wascana Solar Co-operative followed the model of the Saskatchewan Environmental Society’s solar co-op based in Saskatoon. Through the Solar Investment Opportunity (SIO) program the co-op secures financial backing from its members, who realize a small profit through dividends from their investment. WSC members find the SIO is an affordable way to invest in renewable energy projects that reduce carbon emissions. Each Class C share will cost $1000, the approximate equivalent of installing one solar panel. Only WSC members may purchase Class C shares, to a maximum of five shares. Memberships can be purchased for $100 here.
The WSC initiated their first share offering in 2018 which resulted in the installation of 115 solar panels on the roof of the Conexus Credit Union on North Albert Street, Regina. At the time of its construction it was the largest solar installation in the City of Regina. Since 2019 this installation has generated 210 Mwh of clean energy (or 210,000 kwh of electricity). This resulted in a reduction of approximately 149 metric tons of Carbon Dioxide (CO2) that would have been emitted by SaskPower’s existing power sources that rely on burning of coal and natural gas for 79% of total generation.
With the current share offering, the co-op is expecting to install up to 500 panels in the Regina area. It will be evaluating the rooftops of a range of public and private businesses or organizations that own buildings or property and are looking for ways to lower their carbon footprint. Working with the WSC allows these companies to be environmentally responsible without investing valuable company capital.
WSC signs long term agreements with building owners to install solar panels on their roofs or property. The capital required for the solar installations is raised though share sales to co-op members. The WSC then earns revenue from the solar installations by collecting a fee from the owners roughly based on the power the installations produce. These funds are used by the WSC to cover the costs of purchasing, installation and maintenance for the project. Over the term of the project, the shares pay out dividends.
Wascana Solar Co-operative also operates the Group Buy program for individuals interested in installing solar panels on residential properties. The Co-op has also installed 848 panels on residential roofs through its Group Buy program.
For further information about Wascana Solar Co-op and its Solar Investment Opportunity please call 306-53SOLAR (537-6527), reach out by email to email@example.com or visit our Investment Opportunities page.