A new fund is using C$3 million in Ontario government seed money to support the development of community-owned renewable energy projects. The Community Power Fund, the first of its kind in Canada, will provide grants of up to C$25,000 for feasibility studies and "strategic opportunity exploration" and up to C$300,000 to support project development. "I am delighted that there is now a financial mechanism to support the start up and development of community-based renewable energy projects," says executive director Deborah Doncaster. "We look forward to receiving some robust proposals." The fund launched its first call for proposals in September and plans another in January. Incorporated as a non-profit co-operative, the fund is hoping to raise additional seed money to allow it to make the transition from a short term grant program into a sustainable loan and investment organisation. It has set a target of raising C$10 million by 2010.
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