March 20 (SeeNews) - Canada-based non-profit renewable energy cooperative ZooShare has raised the needed CAD-2.2-million (USD 1.7m/EUR 1.6m) financing for a 500-kW biogas plant in Toronto.
The biogas facility, which will be installed near the Toronto Zoo, will process and recycle about 17,000 tonnes of manure and local grocery-store waste and will generate electricity for the Ontario grid. When up and running, it is seen to supply one third of the zoo’s power needs and lower its carbon dioxide (CO2) emissions by 10,000 tonnes. The plant will also produce heat and fertilizer.
ZooShare started raising funds for the CAD-5.4-million project at end-2013 through selling community bonds to local retail and institutional investors. Several companies have also supported the initiative, including Canadian wind and hydropower producer Bullfrog Power.
The biogas scheme is in line with the Toronto Zoo’s energy efficiency and environmental protection efforts, the zoo’s CEO John Tracogna said.
(CAD 1.0 = USD 0.788/EUR 0.732)