Invested to date
Term of loan
GREENHOUSE GASES AVOIDED EQUIVALENT TO 186 TONNES OF CO2 PER YEAR
645,552 KWH of CLEAN ENERGY GENERATED ANNUALLY
Through CoPower, investors have provided a loan facility of $1,000,000 to a portfolio of residential geothermal heating and cooling projects in Quebec.
The projects are owned and developed by Marmott Energies, a Quebec-based geothermal company that is pioneering geothermal-as-a-service -- a model which dramatically increases the affordability and accessibility of geothermal systems.
Previously, homeowners looking to install geothermal systems would have to purchase and install systems outright, which can cost over $30,000. Through Marmott, homeowners can instead pay a fixed monthly fee to Marmott for heating and cooling services. These payments, which replace heating costs (often oil heating) and reduce electricity bills related to air conditioning, are used to pay back the loan and generate steady returns for CoPower Green Bondholders over time.
CoPower Green Bond investors can now proudly claim to be the first invested in local Quebec clean energy projects, and the first in Canada invested in distributed geothermal projects.