Recurrent Energy has been awarded 144.5 MW (AC) of distributed solar power projects by the Ontario Power Authority under the province’s new feed-in tariff program. (UPDATE: Note that original press release stated 145.5MW, but company has since said it actually received additional projects, pushing the total to 154.5MW.) The deal makes Recurrent the largest developer of such projects in Ontario under OPA’s FiT.
Recurrent will finance, build, own, and operate the photovoltaic systems, using equipment and services that meet the 60% domestic content requirements stipulated as part of the FiT program.
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The company expects to invest well over US$400 million in solar modules; electrical equipment; steel and metal fabrication; and related services, such as installation and project management.
OPA will buy 100% of the power and renewable energy credits from Recurrent’s solar projects located in the counties of Simcoe, Lanark, Middlesex, and Oxford, as well as the united counties of Leeds and Grenville.
The projects are expected to be completed in 2011 and early 2012, the company said.
The agreement will lead to the creation of more than 2500 jobs in the province including local manufacturing, engineering, construction, electrical, project development, and related services, the San Francisco-based company said.
“As a global company with strong financial backing and over 1000MW of distributed-scale projects in development, we offer economies of scale and expertise that are attractive to our utility customers,” said Arno Harris, CEO of Recurrent. “Ontario’s renewable energy policy leadership, including the goal of eliminating coal-fired power generation by 2014, makes the province an attractive area for renewable energy economic development and investment, which we are excited to be a big part of.”
“We have been actively developing solar power projects across Ontario for several years and will continue to work with our partners and communities to ensure that the projects bring economic development to the region,” said David Brochu, Recurrent’s VP of development for the eastern region of North America. “Our distributed-scale projects allow us to deliver a large amount of aggregate solar power with minimal impact on the land, while generating significant economic and environmental benefits for us all.”
