Guelph, Ont., June 28, 2017 – Guelph City Council has approved a series of recommendations brought forward through the Envida Asset Review. The review is in response to Council direction received on October 24, 2016 to transfer oversight and management of Envida to the City, with support from Guelph Hydro, who will report to Council.
“City staff, with support from Guelph Hydro, have spent the last nine months reviewing Envida’s assets to maximize shareholder value and create more direct oversight by the shareholder, City Council,” said the City’s chief administrative officer, Derrick Thomson. “We’ve had success with some revenue generating assets, and collectively we have to work through several issues with respect to Guelph’s district energy nodes.”
As a result of Council’s decision, the Eastview Landfill gas generators and the solar assets at 395 Southgate Drive will be transferred through sale from Envida to Guelph Hydro. Solar assets on City land and facilities will be transferred through sale from Envida to the City.
More information and next steps for the redistribution of the assets are available in the Envida Asset Review staff report.
- Envida Energy Asset Review
- GMHI corporate documents
- October 24, 2016: Rationalization of GMHI Corporate Structure
- May 16, 2016: Financial History of the GMHI Group of Companies
Tara Sprigg, General Manager, Corporate Communications and Customer Service
Office of the Chief Administrative Officer
City of Guelph
519-822-1260 extension 2610