SunEdison will be keeping busy with the construction of fifteen rooftop PV systems it has agreed to develop for GE Capital Real Estate. SunEdison will finance, build, own, operate, monitor and maintain the PV systems, which will have a total operating capacity of 2.2MW. GE will in turn collect profits from the lease of the rooftop space, without any upfront capital equipment costs.
“GE Capital Real Estate is focused on being at the forefront of environmental leadership in commercial real estate,” said Kathy Lee, managing director at GE Capital Real Estate Canada. “Our partnership with SunEdison and the installation of rooftop solar arrays is an important step in meeting our sustainability goals.”
The projects will be mainly located in the Greater Toronto area including, Vaughan, Brampton, Burlington, Markham and Mississauga. Construction is expected to start on three of the fifteen rooftop systems this fall.Over a twenty year period, the systems are anticipated to produce over 47 million kWh of electricity. All the rooftop PV projects will be constructed on GE Capital facilities with the Ontario Power Authority purchasing the energy produced under Ontario’s FIT program.