CoPower | COVID-19

An update from CoPower regarding COVID-19

March 18, 2020

Dear investors,

Like many of you, we’re closely following recent events related to the COVID-19 pandemic. As a company focused on the clean energy transition, we know that our investors and borrowers, too, are change-makers focused on making our communities more sustainable. We are in this journey together for the long term, both when times are good and when they’re more challenging, and in this period of uncertainty, we’re committed to remaining a supportive partner in the clean energy transition for all clients.

Our operations

CoPower, along with our parent company Vancity Community Investment Bank (VCIB), is following the latest advice from our provincial and federal health agencies regarding social distancing, and our team is working remotely, to ensure we can protect the health and wellbeing of our employees and clients, and to continue our operations without interruption.

Green Bond Investments

We would like to reassure clients that CoPower Green Bonds are a private investment with fixed rates that do not fluctuate with volatility in the public markets. Clean energy project loan repayments, which flow through to bondholders as interest payments, come from the sale of energy generated or energy savings. These payments continue at a steady pace based on strong contracts and we do not anticipate disruption to the projects due to COVID-19 and its impact on public markets. We are in close communication with CoPower borrowers and continue to monitor the broader macroeconomic situation closely.

Future Green Bond Issuances

CoPower’s latest issuance of Green Bonds is now sold out and our team is working on preparing the next.

Where COVID-19 may have an impact is on the timing and terms of future issuances. CoPower raises bonds to lend to real clean energy projects. As such, availability of bonds is subject to the timing of projects we finance, and rates offered at each issuance reflect the terms of the underlying loans in the portfolio and the expected terms of new loans. We are working with clean energy developers to adapt to new and fast-evolving market circumstances, and keep these important projects moving forward. We look forward to making our next bond issuance available to investors as soon as we can.

What is not changing is our commitment to remaining a competitive option for both clean energy developers seeking financing and investors seeking to put their money to work for the clean energy transition. We look forward to notifying you when new bonds become available.

CoPower Clean Energy Borrowers

Clean energy developers are building the clean energy future, developing innovative models to accelerate the transition, and engaging Canadians to reduce emissions and shift to clean power. To do that work, especially in times of uncertainty, we know you need a unique type of service and support. Our team is here to have forward-looking conversations and help you continue your good work to install and develop clean energy and energy efficiency projects now and in the future. If we can be of support in any way, please don’t hesitate to let us know. You may contact Director of Clean Energy Business Development Jonathan Frank at

Vancity Community Investment Bank

For information on what our parent company, Vancity Community Investment Bank (VCIB), is doing to support clients in response to COVID-19, please click here for a letter from the CEO. As well, we invite you to learn more about the Better Toronto Coalition and how VCIB is partnering with Toronto Foundation to support those most vulnerable to the impacts of the COVID-19 pandemic.

People committed to fighting climate change know something about collective action. We’re inspired to see the global response to COVID-19, the leadership shown by our public health officials, and the actions taken by individuals and organizations to slow the spread and save lives. This situation will stabilize, and our challenge then will be to carry forward what we’ve learned about how to work together quickly and effectively at a societal level as we continue to address the climate emergency.


Trish Nixon

CEO and Director of Capital & Investments

Supporting communities during the COVID-19 pandemic

In addition to supporting clients, VCIB, is partnering with Toronto Foundation to provide assistance to organizations supporting those most vulnerable to COVID-19. CoPower clients are invited to learn more and get involved in the Better Toronto Coalition.