Naveco Power administers the Naveco (N) private and public community investment fund. These funds are used to invest in New Brunswick based projects with lasting social, environmental, and economic benefits.
Naveco Power has invested in three private projects and is opening its first public investment soon.
- N-IV – Public: Westmorland Place Retrofit – Soon to be opened
- N-III – Private: CEDC – May, 2016
- N-II – Private: EOI – February, 2016
- N-I – Private: VAWT – December, 2015
N IV – Public: Westmorland Place Retrofit
Soon to be opened
The Westmorland Place Retrofit will be Naveco Power’s first public investment opportunity, named the N IV fund.
The project will involve retrofitting the 65,000 square feet commercial building that is located on the corner of Westmorland Street and Queen Street. After completing the retrofit, the building owner will reduce energy costs at least 50%.
This project has been estimated to provide community investors with annual dividends and opportunity to reduce 146 metric tonnes of greenhouse gas emissions from the atmosphere annually.
N III – Private: Community Economic Development Corporation
These funds were allocated to create one of New Brunswick’s first Community Economic Development Corporations (CEDC). The CEDC is created to raise community dollars and invest in the Westmorland Place renovation.
N II – Private: Acadia I Wind Farm – Expression of Interest
During the winter of 2016, Naveco Power completed the N II fund to assist in the preparation of the Expression of Interest (EOI) for New Brunswick Power’s Locally-Owned Renewable Energy Small-Scale Program (LORESS).
This Community Economic Development Corporation or Association offering may be a high-risk investment. This offering is made through an offering document, which can be obtained through a person authorized to sell the eligible shares. This offering is an exempt offering of eligible shares only in New Brunswick. Investors should read the offering document before making an investment decision.