Oshawa, Ontario – EnerFORGE, a subsidiary of Oshawa Power and Utilities Corporation, along with equity partner, Ottawa Renewable Energy Co-operative (OREC), have announced the acquisition of a portfolio of Ontario-based renewable energy assets. These assets, located in Bruce and Huron Counties, have been added to the growing EnerFORGE distributed energy operating platform and are an exciting investment for both partners as they continue to forge ahead with the future of renewable energy generation growth in Ontario.
“The partnership with OREC was a perfect match when the opportunity to acquire solar and wind generation assets presented itself. For Oshawa Power and EnerFORGE the acquisitions are in line with the company’s strategic growth objective of expanding its renewable energy asset portfolio. This acquisition will increase Oshawa Power’s installed solar capacity by about 30%, while diversifying the company’s generation portfolio with the addition of the first utility-scale wind asset to the portfolio,” stated Ivano Labricciosa, President and CEO of Oshawa Power Group of Companies.
“EnerFORGE is a leader in the Ontario renewable energy, cleantech, and energy transition space, and as a company we recognize it is not only core to our company’s strategy, but also that it is the right thing to do,” noted Scott Barker, Vice President, Business Development, EnerFORGE.
“OREC is excited to bring its co-operative ownership model to this wind turbine in partnership with EnerFORGE. Our co-operative is committed to welcoming members and investors from the surrounding communities and stay true to our principles of local ownership and continuing to diversify our growing renewable energy portfolio,” announced Graham Findlay, Vice President, OREC.
Fogler Rubinoff, The Redstone Company, and WSP Canada acted as EnerFORGE’s advisors on this transaction.