WindShare Cooperative to partner with Rankin Integrated Energy to operate the wind turbine
TORONTO, Nov. 4, 2022 /CNW/ - Toronto Hydro Energy Services Inc. announced today the signing of an agreement to transfer its 55.1 per cent share in the wind turbine at Exhibition Place to WindShare Cooperative ― a qualified cleantech community operator and innovative wind power cooperative.
Upon completing the transfer, WindShare Cooperative will create a joint partnership with Rankin Integrated Energy to secure the future of the wind turbine and to breathe new life into the project as part of a broader emphasis on renewable energy in the Greater Toronto Area. The agreement also includes a one-year transition period with Toronto Hydro to help ensure the wind turbine operation is successful.
As part of its commitment to community clean energy, Toronto Hydro is pleased to have been a partner in this turbine project over the past two decades, helping to incubate and develop the project. With the turbine now at full operation, Toronto Hydro is proud to pass the reins to a community cleantech operator to continue on with the turbine project. Toronto Hydro looks forward to continuing to advance climate action and help stimulate community clean energy through its Climate Action Plan.
"Toronto Hydro is proud to have played a role in bringing renewable energy to the forefront in the city of Toronto. We look forward to continuing our commitment to advancing climate action through our Climate Action Plan."
- Daniel McNeil, Spokesperson, Toronto Hydro
"Our cooperative started with an idea, persevered to make it real, and built the most visible renewable energy project in the country. We are grateful to have the opportunity to continue operating this sustainability icon and to inspire local champions in Toronto and across Canada to pursue their visions for a sustainable energy future."
- Hassan Shahriar, President, WindShare Cooperative
"We are looking forward to working with WindShare to update and enhance this project so that it can help encourage the next phase of our progress towards net zero in the same way that this turbine served as an inspiration and ambassador for the wind industry over the past two decades."
- Jordan Beekhuis, Director of Sustainable Development, Rankin Integrated Energy Inc.
The Corporation is a holding company which wholly owns two subsidiaries:
The principal business of the Corporation and its subsidiaries is the distribution of electricity by THESL, which owns and operates the electricity distribution system for Canada's largest city. Recognized as a Sustainable Electricity Leader™ by Electricity Canada, it has approximately 788,000 customers located in the city of Toronto and distributes approximately 18 per cent of the electricity consumed in Ontario.
WindShare is Canada's first renewable energy cooperative. Its mission is to facilitate leadership and action in community-driven renewable power projects and help develop them with local champions. Its approach is to develop local projects that close the loop in economic prosperity, energy needs and environmental sustainability for its host communities.
The Rankin Group of companies are family owned and have been involved in the renewable energy industry since 2002 when Rankin Construction Inc. built the foundations for the first multi-unit wind farm in Ontario, Huron Winds. Since then, these companies have contributed to over 600 megawatts of new renewable power projects in this province, serving in various roles, including contractor, developer, manufacturer and owner operator for wind, water and solar power projects.
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SOURCE Toronto Hydro Energy Services Inc.
For further information: Daniel McNeil, Media and Public Relations, Toronto Hydro, 416-903-6845, email@example.com