Toronto Residents Invest in Wind

While the Federal Government and the oil patch are trading jibes on the Kyoto Accord, shares for the first of the waterfront wind turbines are being snapped up by Torontonians eager to act on Kyoto now.

Toronto, Ontario – November 8, 2002 [] WindShare, the community-based investment vehicle developing the wind turbine at Exhibition Place with Toronto Hydro Energy Services, announced this week that it has sold US$670,000 in shares to over 350 Toronto residents and companies keen on doing their share to help meet Canada’s Kyoto targets. WindShare is launching the last of its community sales meetings before the wind turbine arrives in Toronto in December. The 25-story wind turbine is to be completed by year’s end. WindShare is offering Torontonians an opportunity to own a part of the wind turbine, which will be a highly-visible symbol of the growing profile of wind power in Canada. “I am very excited my partner and I invested in WindShare,” says investor Ralph Wushke, the minister at Bathurst Street United Church, which also recently became a member of WindShare. “People and certainly members of our Church, need to feel empowered that they can do something positive about climate change and smog, and this project helps us tackle the problem by making us part of the solution.” People can become part of WindShare by buying CAN$500 (US$321) blocks of shares, up to a maximum of CAN$5000 (US$3215) for individuals, and more for corporate members. Members will then receive the net income generated through the sale of their ‘green electricity’ to Toronto Hydro Energy Services Inc., which will in turn be offering green electricity to its customers. “People sometimes think that an investment in WindShare is like a donation to a good cause,” says Bryan Young, General Manager of WindShare. “Well, it certainly is a good cause, but it is an investment, and one that has two sorts of dividends. The first is the feeling good about doing good dividend, and the other, of course, is financial.”
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