The rooftop solar PV systems will all be located in the Greater Toronto Area, Canada. Construction is expected to commence following FIT contract application approval.
Under the agreement, Atlantic Wind & Solar will finance, build, own, operate, and maintain the solar energy systems hosted on the roofs of the commercial buildings. The electrical power generated from the systems will be sold directly into the grid to the Ontario Power Authority (OPA) , for 71.3 cents per kilowatt hour for a total of 20 years, under the terms and conditions of the Ontario government’s feed-in tariff program (FIT).
Mr. Pierre Cousin, Atlantic’s CEO, commented: "Today’s update not only reflects the advancement of another six projects, but also represents a total of 14 utility scale PV projects to have been quickly advanced into their final pre-construction stages in the last five weeks. FIT contract applications (for 20 year Power Purchase Agreements) have been submitted to the OPA and await final contract approval before construction begins."
He added: "With a strong focus on sales execution, we are also pleased to report that we have increased our total qualified pipeline by 45 percent in the last six weeks. In addition, and complementary to our Canadian operation, we are working on a significant number of international projects which are expected to reinforce our global presence moving forward."