Solar Power Partners (SPP) and JCM Capital have signed a contract with Avacos Clean Energy, to provide long-term equity financing for its portfolio of rooftop solar arrays in Ontario. Funding will cover both the planning and construction of systems with a combined capacity of up to 20MW across the province.
The agreement with Avacos follows on from the recent launch of SPP and JCM’s Solar Fund, which aims to install 200MW of PV systems on a range of large commercial and industrial buildings throughout Ontario; the fund has already agreed to build projects totalling 54MW.
“Partnering with SPP and JCM Capital provides Avacos the opportunity and confidence to present our protected clients the quality assurance of a long-term, professional, rooftop tenant relationship,” said Avacos’ president Sandro Costa.
“We are pleased to announce our partnership with the Avacos team and further expand our activities in Ontario. Our partnership platform has proven to be a success in advancing project development and supporting the growth of clean solar power in the province,” SPP president and CEO Bob Powell added.
SPP and JCM’s fund is actively looking for further investment opportunities and is particularly keen to identify projects that can begin construction in 2011.