Solar Power Partners and JCM Capital have signed a deal with Rumble Energy, to provide full development, construction, and long-term equity financing for a 6MW portfolio of commercial-scale rooftop installations located throughout Ontario. The agreement follows the SPP-JCM announcement in December 2010 on the launch of their Solar Fund to develop, finance, own, and operate 200MW of solar projects in Ontario.
The deal with Rumble brings the current portfolio volume to 60MW; the partners have already begun 54MW of projects, some of which will start construction in 2011.
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Financial details of the agreement were not disclosed.
The fund focuses on the installation of solar projects on large commercial and industrial buildings across Ontario, utilizing the province's feed-in-tariff program via solar power purchase agreements with the Ontario Power Authority.
In addition to future projects, the fund seeks to identify projects that can start construction in 2011.
