Solar Power Partners (SPP) and JCM Capital have signed a joint contract with Solar Power Network (SPN) to finance up to 20MW of commercial-scale rooftop installations in southwestern Ontario. Building work on the installations will begin later this year and bring the number of SPP- and JCM-funded solar systems in the province past the 50MW mark.
SPP and JCM hope to eventually help develop, finance, own and operate building-mounted systems totalling 200MW in Ontario. The portfolio will utilise solar subsidies through Power Purchase Agreements (PPA) with the Ontario Power Authority.
“This is an exciting transaction for us as we're working with a highly-experienced local partner to bring more clean energy to Ontario’s grid, leveraging Windsor region's solar resources, regarded as some of the best in the province,” said JCM’s managing director, Christian Wray.
“This investment vehicle will help develop a network of clean electricity created through solar power installations in industrial areas right where the highest usage of energy exists,” SPN CEO Peter Goodman said. “This solution will not only benefit Ontarians by offsetting consumption from traditional energy sources, but it also integrates more efficiently into an established utility grid with systems that can be built faster than a centralised approach, meaning local businesses can access clean energy sooner.”
“SPP is excited to continue the execution of our plan in Ontario, and the integration of SPN's projects to the SPP-JCM Capital Solar Fund is a great addition for us and for Ontario,” SPP’s senior vice president of project development, Todd Michaels, said.