Northern Solar Bonds Set to Launch by end of 2014! The offering statement for the upcoming issue of Northern Solar Bonds in support of Green Timiskamings ten solar projects has been submitted to the Financial Services Commission of Ontario for review. Nine of Green Timiskamings projects are ground-mounted solar installations to be located in the area around Englehart (about 2 hours drive north of North Bay) with an additional roof mounted project on the town arena in nearby Earlton. Each of the ground mounted installations will be 500 kW (AC) and will be located on marginal (non prime) agricultural land. All the Green Timiskaming projects will be developed in partnership with Soventix Canada Inc., an experienced solar developer, and Endura Energy Developments - a widely respected solar engineering company. Green Timiskaming will own 51% of each project with an option to purchase the remaining 49% once the projects are complete. Development and construction of the projects will take place over the next two to three years, beginning next year starting with the rooftop system on the Earlton Arena. Green Timiskaming will be seeking to raise $3.3 million in Bonds to help build the projects. Sales of Northern Solar Bonds are expected to begin in late 2014. Though residents of the Timiskaming region will be given priority to purchase the Bonds, the offering will also be open to non-residents who are interested in investing.
Posted on: Thu, 20 Nov 2014 17:15:24 +0000
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