Financing was recently closed for 9MW of solar rooftop projects for the Toronto area by MOM Solar, a limited partnership owned by Main Street Power and MS Solar Solutions with universal bank NORD/LB. The projects are located on large retail stores and have 20-year contracts with Ontario Power Authority. The credit facility is for CAN$35.4 million, which will finance the purchase of the completed projects from affiliates of MOM Solar.
"This closing for an aggregated distributed generation portfolio is an exciting story for the solar industry and is a testament to the dedication of our partners," said Amory Host, CEO of Main Street Power. "These projects provide a great combination of economic benefits to the rooftop owners, as well as local jobs for Toronto-based workers and environmental benefits for the Province of Ontario," Host added.