British Columbia-based League Assets Corporation (League Assets) recently created its Member-Partners Solar Energy Limited Partnership to offer investors a new way to generate revenue while they help Ontario bolster its green economy. The partner-owned venture invests in rooftop solar arrays in the province that earn money by taking advantage of government green energy incentives.
“This investment is our answer to the hundreds of requests we’ve received from our Member-Partners,” says League Assets’ Founding Partner, Adam Gant. “Green investing is the right thing to do, and League’s Member-Partners Solar LP is the right way to do it.”
League Assets is an investment firm that offers its clients shared ownership of primarily real estate-based investments. The company manages the IGW Real Estate Investment Trust, which deals with Canadian commercial and residential properties and currently boasts combined assets worth close to $300 million. According to its website, League Assets has “partnered with the families of its more than 2,500 Member-Partners.” Among the company’s other environmental achievements, it provided funding for energy saving equipment at the 2010 Winter Olympics Athlete’s Village; Canada hosted the event in League Assets’ home province.
Investors Help Create Renewable Energy, Careers for Certified Solar Workers
Ontario’s green economy is fuelled by the high prices the provincial government’s feed-in tariff (FIT) program pays to producers of renewable energy who feed their installations into the power grid. The program continues to lead to the creation of solar, wind, and biofuel energy as well as career opportunities for assembly line workers and certified solar installers across the region. The FIT’s high prices have also drawn the eyes and bank accounts of investors from across the globe.
“Member-Partners Solar Energy LP will enter into contracts under Ontario’s FIT program,” says the company’s other Founding Partner, Emanuel Arruda, “and the difference (between) our cost to produce the power and what we earn for producing the energy will become profit to be shared by our Member-Partners…. It’s that simple.”
League Assets’ investment in Ontario’s green economy will bring the FIT’s goal, to eliminate coal-fired power generation in the province by 2014, closer to reality. It also adds to the pool of renewable energy careers in the region and boosts solar certification and other green educational streams, all while it contributes to a more sustainable future.