Dividends and AssetsDividends:Dividends generated by investment in the Lakewind project will be issued on an annual basis as determined by the Board. This will occur at such time as the project is producing and selling electricity into the provincial power grid, and subject to incomes and expenses of the co-operative. The WindShare Board of Directors will recommend the annual dividend at the Annual General Meeting, to which all members are invited. The Directors’ recommendation will be voted on and the dividend will be distributed to shareholders following the meeting. Dividends are considered taxable income: a T5 will be issued to the shareholder for the annual dividend paid. For the first ten years of power production at the Lakewind site, payments to members will include a portion of the member’s initial share capital in addition to dividends generated by net profits, as approved by the Board.AssetsWindShare co-owns the Ex Place turbine, located on the shores of Lake Ontario in Toronto, with the Toronto Hydro Electric Services Inc. (THESI).The 750 kW turbine was erected in December 2002. The turbine has produced over 3,000,000 kWh of power to date, power sold into the Toronto grid. Though a Joint Venture Committee, WindShare and THESI equally own and manage the Ex Place turbine. |
Economic Snapshot
The Lakewind Power Project has a 12 year payback period, with a strong estimated IRR of over 7%; perfect for a high-yield long-term social investor.
 The final rules of the OPA's Standard Offer Program were announced November 8th. The program has the potential to help small wind like our new Lakewind Power Project.
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