The company states that, overall, the photovoltaic rooftop projects will create over CAD$50 million of equipment sales and installation work in the Canadian province.
It adds that upon approval of the applications, it will enter into 20-year FIT contracts to develop, own and operate the solar energy systems. The roof space will be leased from individual building owners.
BrightRoof was established by CarbonFree Technology and Connor, Clark & Lunn Infrastructure. The company plans to invest $100 million of capital over the next two years to fund solar projects participating in Ontario’s FIT program.
The necessary financing is said to be in place, and the current applications account for more than half of the total.
"We believe solar power represents a clean and reliable alternative to other forms of power generation available in Ontario," commented David Oxtoby, CEO of CarbonFree Technology. "Many building owners and tenants agree, and they are eager to be a part of the solution."
In addition to working directly with building owners, BrightRoof is partnering with other solar developers and installers to acquire or co-invest in projects which have already received FIT contract offers.