There are now more than 3,000 solar panels feeding electricity into the region's power grid from six city-owned rooftops.
Thunder Bay Hydro held a ribbon-cutting ceremony at the Superior North EMS headquarters Wednesday afternoon to celebrate the completion of the six solar projects.
Since January solar panels have been installed on the roofs of the EMS building, the Victoriaville parkade, Thunder Bay Transit, Mountdale Maintenance Garage, TBayTel Work Centre and the Port Arthur Arena.
TB Hydro president Robert Mace said the installations will produce about 880,000 kilowatt hours per year, which is enough energy to power 100 homes.
The projects are a $4-million investment for TB Hydro and Mace said it makes commercial sense.
"We've signed a 20-year contract with the Ontario Power Authority. It's a business for us," said Mace, adding it's also environmentally-friendly.
"It's not a ton and really renewables in Ontario are never going to account for 50 or 60 per cent of the energy but a little bit helps offset some of their uses of electricity," he added.
TB Hydro and the city formed a green energy strategic alliance in 2010 and the plan was initially to invest $14 million in solar projects. However, provincial policies have since changed and the OPA now pays less for solar projects.
Mace said after taxes, they should see a return in excess of 10 per cent on their investment.
As the company's shareholder, the City of Thunder Bay will see revenue from the projects through the leasing of the rooftops to Hydro and dividends from the profits.
At-large Coun. Iain Angus said the city hasn't decided where they money will go yet, but he suspects some will go to capital investments and some will go to the reserve funds for rainy days.
"The fact that we've got revenue coming in that we know we can come on, on a contractual basis for 20 years, gives us a level of comfort we haven't had in the past," he said.
