CoPower issuing more green bonds

In a release, CoPower Inc. says the first tranche of its $20-million issuance of green bonds is now available to individual investors.

The first $2.5 million tranche of green bonds is backed by two portfolios of loans to more than 150 LED lighting retrofit projects in condos across Ontario, British Columbia and Alberta. With a $200-million project pipeline in the works, CoPower expects the next loans added to the portfolio will come from GeoExchange heating and cooling projects in Quebec, and solar projects in Ontario.

The bonds, which pay up to 5% annually, are available through CoPower’s online investment platform at a minimum of $5000. The bonds are available to investors across Ontario, Alberta, British Columbia, Nova Scotia and Quebec, and the company is looking to register in all other provinces and territories.

Demand is growing for impact investments, says Deb Abbey, CEO of the Responsible Investment Association.

CoPower first tested the market by issuing a $300,000 green bond in February 2016.

Read: Another record year for global green bonds?

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.