KDSB looking at new investment strategy

News — 05 October 2011

By Ally Dunham

Kenora District Services Board (KDSB) is looking at innovative ways to invest their reserves, to produce the highest returns. One way to accomplish this, is to research the MicroFit Roof Mounted Solar/Photovoltaic Power Generation projects available in the province.

Upon some research, administration decided upon ten facilities owned by KDSB that would be candidates for this solar project. Receiving agreement from the board to tender one installation, the approximate cost for install would be $70,000 per unit.

Dan McNeill, CEO of KDSB reported to the board that at a cost of $70,000, the estimated return on investment and positive cash flow on each 10 kw solar/photovoltaic system is 16 per cent and $170,000 respectively.

McNeill says these returns are spectacular when compared to current bank rates, and the solar returns are by far more superior. He says the solar technology has matured and the systems being proposed are stable, low maintenance, relatively static from an on-going operational perspective and low risk.

KDSB administration has gone to the Local Distribution Company (LDC) for ten different approvals, as well as the Ontario Power Authority (OPA). As of time of print, KDSB had received eight of the 10 approvals needed.

Two facilities in Dryden will see the roof-mount system installed, including 330 Van Horne and 10 Victoria. The facility at 10 Victoria will be receiving a roof upgrade as well as the solar system.

A tender will be put out to contract all the systems in bulk, and once received, will go to the board for approval.

The other facilities KDSB is looking to tender include the Maples building in Keewatin, Trillium, Amethyst and Parkview in Kenora, Sunset Leisure Manor in Ear Falls, George Aitken Manor and Follansbe in Red Lake, Patricia Plaza in Sioux Lookout as well as the new Kenora EMS base.