The insolvent German company worked on the silicon crystalline project together with private investment firm, Starwood Energy Group Global, LLC. Work on the first 24 MW phase, SSM1, began back in October 2010, and was followed by a second 34 MW phase, SSM2, in September 2010. The last 11 MW of phase 3, SSM3, have now been completed.
Overall, more than 300,000 of Q.Cells' Q.Base photovoltaic modules have been used across the three sites. The generated electricity is being bought by the Ontario Power Authority under a 20 year contract. Construction financing and long-term debt was provided by Norddeutsche Landesbank Girozentrale ("NORD/LB") and KfW IPEX-Bank.
In a statement released, Q.Cells said that photovoltaic companies which "offer a guaranteed return on investment (ROI) to their utility customers will have a clear competitive advantage."
Boris Schubert, CEO of Q.Cells North America, added, "Despite global economic challenges, Ontarios solar market has grown rapidly. Q.Cells looks forward to working with our partners to continue solar energy integration in Ontario and elsewhere in North America."
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.