UGE completes acquisition of Carmanah Solar, secures contract for 17 MW solar facility in Alberta

Canada-based renewable energy company UGE International Ltd. announced it now owns 100% of the joint venture, which acquired the on-grid solar energy business of the Canadian PV system provider Carmanah Technologies Inc. in April.

Prior to this announcement, UGE had a 60% stake in the joint venture with affiliates of OYA Solar Inc. and Polar Racking, Inc., which bought Carmanah Solar Power Corp. (CSPC) for 2.6 million CAD ($1.9 million). In April, UGE said CSPS held a leading market share in Canada in the same mid-scale categories that UGE focuses on.

In a separate development, UGE announced that it has been granted the contract to develop a 17 MW solar facility near Calgary, Alberta, by Elemental Energy. The plant, which is expected to be the first utility scale solar project in western Canada, will be located on 78 acres of land in the County of Newell.

Construction on the plant is scheduled to start in June, with completion planned for the fourth quarter of 2017.

In November 2016, the government of the western Canadian province has vowed to set clear timelines to develop solar and wind projects, so renewable energy accounts for 30% of the provincial energy mix by 2030. The provincial government expects its Renewable Electricity Program (REP) to attract at least C$10.5 billion ($7.8 billion) of private investment in new projects.

The program will utilize a mechanism — similar to the Contracts for Difference (CfD) scheme in the U.K. — that has been dubbed the “indexed renewable energy certificate.”