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JCM Capital has announced that it will co-develop and finance a 50MW ground-mounted solar project in South America up until the construction start date, after which it will be responsible for arranging long-term financing for the project.
The specific location of the project has not been disclosed. However, JCM did reveal that the project would “operate under one of the few FiT programmes in the region and one of the best irradiance levels across the globe”.
This project is in line with the company’s corporate strategy to tap into new markets outside of Ontario, Canada, in order to grow its business internationally. Commenting on the South American market, JCM’s chief financial officer, Martin Ritchie, said, “South America is a region of interest to us considering their need for energy, high irradiance levels and increasing level of political stability.”