GREY:EDYYF - Post by User
Post by
NycePriceon Mar 31, 2015 4:55pm
71 Views
Post# 23583601
Largest Solar Energy Project in Ontario -
Largest Solar Energy Project in Ontario - In December 2014 the Company entered into an agreement, to acquire one of the largest solar energy project portfolios in Ontario. The total portfolio consists of 143 individual rooftop solar energy installations and represents 38 Megawatts in aggregate scale. The solar energy projects each carry a 20 year Power Purchase Agreement issued by the Ontario Government under the Ontario Feed in Tariff (FIT) program
Long Term Financing Risk for the Ontario FIT Program The Company is required to raise up to $100 Million in construction and long-term debt financing for the 38 Megawatts of Ontario FIT solar projects it is developing. The Company has an experienced management team who have a track record of financing various solar energy projects globally. The Company is currently in discussions with project financing companies who have expressed an interest in financing the projects. The Company is also in discussions with strategic industry partners who would form a joint venture in the construction and financing of the solar energy projects. The Company has not entered into any definitive agreements at this time for the financing of the solar energy projects.