This acquisition is part of the company's ongoing activities to accelerate the development of PV projects in Ontario.
Under the terms of the sale, it acquired more than 300 acres of land across two sites near Sandhurst, Ontario. The first site will be used to develop and construct a 10 megawatt (MW) Renewable Energy Standard Offer Program (RESOP) project. The second site will be developed for Ontario's feed-in tariff (FIT) program.
"We are excited to have purchased these solar photovoltaic development projects," said Jason Gray, Canada Country manager for SunEdison. "SunEdison has a successful record of utility-scale solar PV system installations. We have the proven ability to bring solar energy projects to fruition and to do so quickly, so that we can all enjoy a cleaner, greener Ontario."
SunEdison will work with Hydro One, Greater Napanee officials, and the local community to begin construction on the RESOP project in early next year. It is estimated the system will offset more than 50 million kilograms of carbon dioxide (CO2) over the initial 20 years of operation. The timing for the deployment of the FIT project will be determined at a later date.
The company will finance, build, own, operate, monitor and maintain the solar energy systems. The Ontario Power Authority will purchase the energy produced under the terms of Ontario's RESOP and FIT programs, both enabled by Ontario's Green Energy Act.
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