Under the new partnership, a new company, BrightRoof Solar LP, has been formed, which is looking to finance, develop, own and operate the projects.
VP of technology for CarbonFree Technology, Antonio Antonopoulos, tells pv magazine that while he cant provide specific details, around 20 megawatts (MW) is expected to be installed through the fund: the possibility to expand this will exist.
He adds that there are already several MW of projects in various stages of development, including several feed-in tariff applications, which have been submitted to the Ontario Power Authority, and are awaiting approval. "If delays are not abnormally long, we expect the first of these to be under construction by the summer time," he states. "The projects are mostly rooftop, in the 100 to 500 kilowatt range. We would also consider larger opportunities as well, depending on economics."
According to a statement released, BrightRoof plans to work with building owners across the province. As such, the company intends to enter into long-term lease agreements, and then pay the owners rent for the use of their rooftops for the solar energy systems.
The building owners will reportedly pay nothing for the equipment, installation or operation of these systems, while the lease payments they receive will provide additional income from otherwise unused building space.
"The success of Ontario’s FIT program means landlords have a choice of solar tenants," said David Oxtoby, CEO of CarbonFree Technology. "With a long-term lease, the quality and financial strength of a tenant is paramount, and we believe BrightRoof is the best solar tenant in the market."
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