Vancity Capital Corp., part of Vancouver City Savings Credit Union, is injecting $1 million into CoPower’s revolving credit facility for clean energy investment.
The financing comes one week before CoPower issues a $20 million green bond, its biggest yet, to let ordinary people invest in clean energy projects across North America.
Vancity joins four Canadian foundations in backing the credit facility, now totaling $4.2 million. CoPower, a certified B Corp, will use the capital to make initial loans to clean energy projects.
“Bondholders enter the picture only once we can point to specific clean energy projects they can see and understand,” said CoPower’s Trish Nixon.
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