(Toronto) Global financial leaders will come together at the MaRS Discovery District in Toronto today to discuss the province’s new green energy program with Ontario’s financial community. The Green Energy Act Finance Forum is being presented by MaRS, the Green Energy Act Alliance and D & D Securities and will showcase some of the world’s leading experts in green energy investment.
“The finance community in Canada needs to understand the economics and potential for growth of renewable energies in Ontario” said Dr. Ingo Koenig, Managing Partner, Koenig & Consultants Inc. “They have to lubricate the growth engine of renewable power.”
Finance Forum speakers include: Deutsche Asset Management, Deloitte, Dexia Credit Local, Ernst & Young, CIBC World Markets Inc, Koenig & Consultants, law firm Ogilvy-Renault and many more. Several local renewable energy project developers will have an opportunity to showcase investment opportunities currently available in the province.
“Ontario, as an economic powerhouse and one of the richest locations in North America, has launched a pre-emptive incentive program to create a brand new value-added manufacturing industry in Ontario for the 21st century with its Green Energy Act” said Andy Gustajtis, Managing Director, D & D Securities.
Launched in September 2009, Ontario’s Feed-In Tariff (FIT) guarantees a price per kilowatt hour of renewable power generated, based largely on the technology used and the size of the project. In December, the Ontario Power Authority announced that they had received more than 2,200 FIT applications, including 1,000 applications for projects over 10 kilowatts.
“The Forum is important because it provides needed light on the most comprehensive set of Feed-In Tariffs for Renewable Energy in North America – FITs which are as competitive as anything in Europe, and far more competitive than those in the United States” said Don Roberts, Managing Director, CIBC World Markets Inc.
“De-carboning our economy will be the biggest infrastructure build in human history” said Tom Rand, Venture Group, MaRS Discovery District. “The Green Energy Act is one of the most forward-thinking pieces of legislation to that end in North America. It provides for high-yield and low risk, designed to move serious capital in the sector. It is likely the first of a series of long-term policy initiatives that will be required to meet targets for a low-carbon economy.”
The FIT program also offers an additional incentive per kilowatt for projects owned in whole or in part by community and aboriginal groups. Several community power project developers will be at the conference showcasing local investment opportunities for community-owned power.
“The investment return is made even more attractive by the additional financial incentives offered if financial institutions partner with community groups” said Deb Doncaster, Executive Director, Community Power Fund, a founding member of the Green Energy Act Alliance. “Ontario financial institutions need to start looking at new models for partnerships of this type, or fear losing out to the European capital market experienced with this type of investment.”
About the Green Energy Act Alliance: The Alliance’s vision is to make Ontario a global leader in green energy development through the use of renewable energy, distributed energy and conservation, creating thousands of jobs, economic prosperity, and energy security, while ensuring climate protection. Member groups include: the Ontario Sustainable Energy Association, Community Power Fund, the David Suzuki Foundation, Environmental Defence, United Steelworkers, the First Nations Energy Alliance, the Ivey Foundation, the Ontario Federation of Agriculture and the Pembina Institute. www.greenenergyact.ca.
About MaRS Discovery District: MaRS is a non-profit innovation centre connecting science, technology and social entrepreneurs with business skills, networks and capital to stimulate innovation and accelerate the creation and growth of successful Canadian enterprises. Learn more at: www.marsdd.com.
About D & D Securities: D & D Securities is a full service investment dealer specializing in investment banking, wealth management, retail brokerage, and institutional sales & trading. The key to D & D Securities success is its ability to represent creative and dedicated entrepreneurial talent through focus, dedication, and high level of seasoned experience and expertise to all its deals. It is through these traits that separates D & D Securities Company from other independent investment dealers. www.dndsecurities.ca
For more information, or to arrange an interview, please contact:
Erin Charter, Environmental Defence (416) 323-9521 ext. 258; (647) 210-7888 (cell)