Ottawa Renewable Energy Cooperative (OREC) : Finance Manager (part-time, virtual) The Ottawa Renewable Energy Co-operative (OREC), a for-profit cooperative, is seeking an experienced part-time Finance Manager (ca. 2-3 hours/month). While most of OREC\xe2\x80\x99s staff and Directors are located in Ottawa, this role can be performed remotely from anywhere in Canada. The Ottawa Renewable Energy Co-operative (OREC), incorporated in 2010 and with nearly 900 members, finances renewable energy projects by selling Preference Shares and Investment Notes to its members. To date, all but three of the co-operative\xe2\x80\x99s 22 solar power projects have 20-year Power Purchase
Agreement known as Feed-in Tariff (FIT) contracts which provide a fixed rate for every kilowatt hour generated. The other three sell the energy generated to the building owner through a long-term power purchase agreement or equipment lease. Several of the co-operative\xe2\x80\x99s solar projects are jointly owned
(in four cases through a joint venture [JV] entity, either a corporation or limited partnership [LP]). The co-operative also co-owns a wind turbine in southwestern Ontario and the co-operative has a small portfolio of building energy efficiency equipment leases that it has financed. Steady, predictable revenue streams from these projects are used to pay back investors, including annual dividends or interest. OREC is poised for further growth in 2023 through acquisitions of existing projects, and new project development. OREC is managed by a volunteer Board of Directors elected by the membership, but with day-to-day management provided by a full-time General Manager (GM) who oversees contractors and is responsible for member, investor and partner relations, and communications. A contractor is engaged to provide solar equipment monitoring & maintenance and the co-operative has a contract Bookkeeper who looks after monthly invoicing and bill payments including payroll, quarterly HST filings, and annual interest/dividend and capital repayments to shareholders (and related T5 filings), and who maintains the co-operative\xe2\x80\x99s books (Quick Books) and those of 4 JV entities that OREC manages. The Finance Manager will be responsible for working closely with the Bookkeeper, the General Manager and the Board of Directors (primarily the Board Treasurer) to provide senior financial management and oversight for the Co-operative. The Finance Manager\xe2\x80\x99s responsibilities include:
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