A new partnership between a local Peace River investment group and a local renewable energy cooperative has moved their plans for a multi-million dollar solar power project one step closer.
Peace Green Energy (PGE), based in Peace River, and Peace Energy Renewable Energy Cooperative (PEC), based in Dawson Creek, B.C., have created a new company, Peace River Energy Project Inc. (PREP Inc.) to move forward their almost shovel ready solar farm, the Peace River Energy Project (PREP), to be located near the town of Peace River.
Five megawatts in size, PREP will be Western Canada’s first cooperatively owned and operated solar farm, funded entirely by Peace Energy Co-op and community members.
“I am thrilled we are able to announce that this agreement is now in place, which has been in the works for many months,” says Adam Mildenberger, president of PREP Inc., after their first board of directors meeting at Peace River Sept. 13.
“This partnership is a big step forward for local renewable energy and I can’t wait to see what the future holds,” he adds.
PEC was Western Canada’s first renewable energy cooperative and has a long track record of successful wind and solar energy projects. PEC is an investment cooperative, raising capital from its members to invest in for-profit renewable energy projects.
“Raising community capital and bringing like-minded people together are the keys to realizing our renewable energy ambitions in the Peace Region,” says PEC president Joanne Dueck.
“This new partnership secures a critical group of member/investors for both the Peace River Energy Project and our future clean energy projects in the Peace. We are thrilled and eager to move forward with our new partners,” she adds.