We will attempt to obtain another FIT contract and extend the lease. If another FIT contract cannot be obtained the lease contains provisions to extend the lease if another “arrangement” can be found. The term other arrangement is loosely defined in the lease as it is uncertain what arrangements or programs may be present 40 … Read more
The original term of the lease is for 40 years to match the FIT contract term of 40 years. The lease has several provisions which allow the lease term to be extended if another FIT contract can be obtained or if another arrangement or mechanism can be found.
The lease is registered on the title to the property. Therefore the new owner of your property will become the lessor, and will receive the lease payments.
Situation A) Your site is developed with GreenBug as the leasor. This means GreenBug owns 100% of the installation.In this case, generally your lease is unaffected. We believe any successor organization would want to continue to operate the system in order to generate income and pay your share to you. Situation B) Your site is … Read more
No your property taxes will not go up. In Ontario, Any water power installation does not affect property taxes. Hydro-electric generating stations are not subject to property tax. In its place, they are subject to a provincial Gross Revenue Charge (GRC), based on the gross revenue (regulated rate) and actual generation of the facility. For … Read more