In 2015, members of GRECo purchased community bonds for GRECo’s Airpark & Silvercreek projects. These bonds secured $185,000 in co-op equity, which allowed GRECo to leverage the $1.5 million in partners and financing required for the two rooftop projects.

 

In these two projects: 

• GRECo controls 51%.

• The co-operative generates income to pay 37 community bond holders a solid return on their $5,000 bonds.

• Bonds have a 20-year term (option to transfer the bond after 5 years).

• 5% of the bond principal is paid back annually each year starting at the end of year one. 

• Average return on outstanding principal: 7.26%.  

 

The bonds will pay the following interest on the outstanding principal balance:

• Years 1 through 5 - 5.0%

• Years 6 through 10 - 7.5%

• Years 11 through 15 - 10.0%

• Years 16 through 20 - 12.5%

 

For more details on the GRECo co-operative model for community financing used for the Airpark & SIlvercreek projects in 2015, please download the GRECo Solar Community Bond Investment Guide 2015, below.