The project is being funded by a combination of Markham's own capital budget money and infrastructure stimulus funds provided through a funding partnership with the governments of Canada and Ontario. Once operational, the new solar photovoltaic grid-tie system will generate revenue through the contracted sale of energy from the Ontario Power Authority (OPA) under the feed-in tariff (FIT) program at a rate of $0.713/kWh.
From the annual revenue received by the system under the OPA FIT contract, Markham will pay down its capital budget investment portion within the first five years of operation, the remaining 15 years of the contract revenues are proposed to be reinvested in future Markham energy projects. In concert with the revenue generation, the new system will also support Markham's long-standing commitment to renewable energies and sustainable technology.
In selecting a solar grid-tie provider for the project, Carmanah Technologies was chosen over four competing candidates.
"Carmanah earned their selection by scoring more points than its competitors making it the highest ranked proponent. Based on their past experience in similar projects and by having a more qualified design and project management team than the other bidders, the choice was clear," said manager of Climate Change and Energy and bid evaluation team member, Graham Seaman.
