What is AMBER Energies Co-Operative?
AMBER is made up of Elgin County community members. 18 projects to date are/to be located in Elgin.
Who can become a member or an investor?
Membership is open to all residents. A membership can be purchased for $200.00 plus a $50.00 administration fee. Every individual over the age 16 willing to participate in the Co-op can receive one (1) membership share which will give him or her one vote. Memberships are transferable based on approval of Board of Directors. If you are interested in investing in an AMBER dividend you will be provided with a full offering statement and the opportunity to make an investment in community projects. Members are under no obligation to invest.
How do I judge the investment?
The Offering Statement, now 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. A copy of the Offering Statement will be available prior to investing in AMBER. What are the risks in investing in a Renewable Energy Co-operative? Revenue risks are low since each 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. AMBER 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?
roject construction must be completed within 18 months of receiving the contract from the Ontario Power Authority.
How many projects can one person bring to the co-op?
Any person may bring as many projects as they wish to the Co-op. This means that if your neighbour has a suitable roof, but does not want to become a member of the Co-op you may lease the roof-space from him/her and contribute the project to the Co-op.