CoPower offers green bonds for everyday Canadian investors to invest in community clean energy and building retrofits across North America.
It mitigates risk by investing in revenue-generating projects. Stéphan Morency at Fondaction CSN, a Montreal-based pension fund, said CoPower’s crowd-financing approach fills a capital gap.
“We’ve seen first-hand what a challenge it is for these clean energy projects to access financing,” he says. Since its launch in 2013, CoPower has raised C$12 million ($9.6 million) for lending, and currently has two green bonds open for investment.
In addition to Fondaction CSN, CoPower’s latest equity funding round was backed by the Royal Bank of Canada and others.
The round also includes a $1 million revolving credit facility from Vancity Capital Corporation.