WindShare The Green Investment with Greater Returns

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WindShareThe Green Investment with Greater
Returns
by the Toronto Renewable Energy Co-operative
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The Waterfront Wind Turbine Project

• Two wind turbines on the Toronto Waterfront
• Joint Venture between Toronto Renewable Energy
  Co-operative (TREC) and Toronto Hydro Energy
  Services
• Sites Exhibition Place and Ashbridges Bay
  Treatment Plant
• First green energy co-operative in Canada
• First urban-based wind turbine

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What is WindShare?

• Marketing name for TRECs side of the project
• WindShare inviting Torontonians to become part
  owners in the wind turbines
• Members purchase shares and receive dividend
  proportionate to number of shares they own

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The Turbine at the Ex
Dufferin Gate
Turbine
Ontario Place
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Project Update

• ExPlace Foundation now built
• Ashbridges Bay Treatment Plant
• Turbine installation October
• Target Sale of 800,000 in shares by Fall 2002
• Offering Statement approved
• Over 500,000 in shares sold
• 175 Members to date

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Lakeshore Blvd going west
58 m rotor diameter
Both turbines generate 3.6 million kWh/yr
Enough for 500 households
94 metres 25 storeys
Lagerwey 750 1.19 million
CO2 offsets of up to 2.8 million tonnes/yr
65m tower height
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WindShares Benefits

• A hedge against rising electricity prices
• Similar to a pre-purchase of electricity
• As prices for electricity rise, so do benefits to
  WindShare members
• Members become promoters of emissions-free
  electricity generation through popular Toronto
  icon
• Members directly contribute to lowering CO2
  emissions

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The WindShare Offer

• 16,000 preference shares at 100 each
• Proceeds used to finance 50 of each of two
  turbines
• Individuals purchase up to 5,000
• Corporate members starting at 5,000 (preferred)
• Shares sold in blocks of 5 X 100
• Members purchase 1 membership share

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Seven Reasons to Invest in WindShare

1. Earn a financial return
2. Earn a good financial return
3. Earn a good financial return for many many years
4. Earn a return that does good
5. Ease the burden on health care costs and your tax
   dollars!
6. Protect yourself from rising electricity costs
7. Invest in the future

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And Many Returns to You!

• Projected financial returns per 100 share of
• 5 Year 1
• 8 Years 2 and 3
• Escalating thereafter assuming 2 inflation, and
  2 increase in electricity prices per year

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Projected Annual Distribution (per Share)
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And Many Returns to You!

• Value of environmental externalities totalling
  93,000 per year per turbine
• Avoided CO2, SO2 and NOx worth 85,000/yr in
  avoided environmental degradation per turbine
• Avoided health care costs in Ontario total
  8,000/year per turbine
• Based on Environment Canada figures
• Based on OMA study on health care and lost
  productivity due to air pollution in Ontario

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About Distributions

• Net of expenses and after taxes
• Dividends projected for end of Year 1
• Dividends are taxable income
• Amount of dividend decided by Board of Directors
• Amounts stated are projections only
• Potential investors should read the offering
  statement prior to investment

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Development and Capital Costs
Project development costs 70,000 Engineering 67,
000 Foundations 175,000 Electrical
100,000 Landscaping 10,000 Turbine purchase
and installation 1,191,000 Spare
parts 45,000 Capitalized interest 20,500 Environ
mental compliance 15,000 Miscellaneous 6,500 To
tal project costs 1,700,000
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The Member Agreement

• Your contract with WindShare (the Co-op)
• Outlines your rights and obligations
• Outlines payment options, member interests
• Plaque and Member Challenge
• How money is released for project
• How shares may be sold, transferred, or assigned

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Projected Expenses to Year 3
Projected types of annual costs
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Some of the Variables

• Wind Resource Based on anticipated average over
  20 years
• Price of power after Year 3
• New Federal Incentive for Wind 1.2 cents/kWh
• Potential for avoided transmission and
  distribution charges
• Unanticipated delays or higher costs from now to
  completion
• Climate Change as the biggest variable

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Why are we doing this?

• Response to lack of green power
• Response to climate change and smog
• Response to privatization growing a new co-op
  sector, a new movement
• Today WindShare
• Tomorrow LakeWind
• In 10 years, Denmark
• Denmark 80 of countrys turbines co-op owned

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What the Antarctic is Telling Us
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Special thanks to Thomas Homer-Dixon
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Changes in Temperature and in CO2 Concentration
Over Time

• Make a commitment to
• Green power
• Community-based solutions
• Building a strong co-op movement
• Future generations

There is something you can do!
Projection
Temperature (from the present core temperature
of -55.5 ?C)
CO2 Concentration (ppmv)
CO2 (right axis)
Join
Temperature (left axis)
Special thanks to Thomas Homer-Dixon
Thousands of Years before Present
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www.windshare.ca
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Our Partners
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Some of our Members

• Mountain Equipment Co-operative
• Daily Bread Food Bank
• FoodShare
• Karma Food Co-operative
• Enbridge
• Environmental Defence Canada
• City TV Broadcaster, Bob Hunter
• Reknowned pianist, Anton Kuerti

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Relative Avian Impacts

• Maximum 1.9 birds/turbine/year
• Average lt 1 bird/turbine/year
• Comparative mortality at other structures
• tall communications towers gt 1000
  birds/tower/year
• single buildings gt 1500 birds/building/year
• Oil Spills
• Housecats

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Member Challenge

• WindShares grassroots campaign is volunteer and
  Member driven
• Member challenge
• Sales activities
• Distribute brochures
• Staff display booth at public events
• Host a coffee house
• Become a trained sales rep
• Sales Events See our website