Who are we? The SUN Co-operative is a new community-owned non-profit solar power co-operative started by local individuals in Greater Sudbury with the help of reThink Green (a network of local environmental community organizations). We are locally owned and locally controlled by the individual members of the co-operative.
What’s our goal? We want to bring this solid community investment opportunity to Sudbury, we want to promote renewable energy, and we want to improve our community by supporting local environmental volunteer organizations with the profits.
What kind of projects are we doing? We are focused on solar projects on brownfields, old mining land or rural areas not productive for agriculture. We aren’t focused on wind projects, don’t want to take up good forest or farm land, and we don’t want to bother any neighbours.
Why join? By joining as a member, you show we have support in the community, and your one-time membership fee helps make our projects happen. Members also stay informed and get first option on the great investment opportunities we are offering now and into the future.
Why invest? First: Because you support our goals. Second: To put your money to work improving your community instead of on Bay Street and Wall Street. Third: To make money. Whatever your reason, you get a chance to support local volunteer groups while making a smart financial investment at the same time. It’s a win-win.
What kind of money can I make? At this point we are offering high interest rates, up to 9% annually to those who don’t just want to lend us the money interest free or to donate (as the Sudbury Credit Union has done, thanks!). These potential higher interest rates are because we understand we are just starting up and there is higher risk involved. Interest accrues from when we borrow the money to when we pay you back (which will be October 2016 at the latest when our first project should be up and running). Interest will be paid at the latest by October 2017. You can of course decide to donate your interest revenue to us at a later date. Right now we are just covering the planning costs to get started and can’t take more than $1000 as a loan from any individual. The amount of funds we need to raise at this time depends on the number of project sites we are able to confirm.
See the promissory note below for more details, and please contact us if you have any questions regarding this opportunity.
Acknowledgment and Promissory Note – Variable amount and interest rate, to be used for any amount up to $1000, and for interest rates up to 7% (on amounts up to $500), or up to 9% (on amounts between $501 – $1000).
For pure donations these forms are not required, please contact us separately!
To make your investment, mail or drop off the forms above along with cheque or cash to reThink Green’ office.