Under the agreement, SunEdison will finance, build, own, operate, monitor and maintain PV solar energy systems with capacity totaling 2.2MW.
GE Capital Real Estate will receive lease revenue for rooftop space allocated to the projects, without any upfront capital equipment costs.
The projects will be hosted at GE Capital Real Estate facilities and the Ontario Power Authority will purchase the energy produced under the terms of Ontario’s Feed-in Tariff Program.
The majority of projects will be located in the Greater Toronto Area including Vaughan, Brampton, Burlington, Markham and Mississauga, with additional systems located in London.
Over 20 years, the systems are expected to generate more than 47 million kWh of clean energy, with the potential to offset an estimated 9.8 million kilograms of CO2 into the atmosphere.
