Once final approval is obtained, these projects are expected to be completed in 2011 and 2012. The projects were developed in partnership with several renewable energy developers in the Ontario market, including 3G Energy, Axio Power, Saturn Power and UC Solar.
Shawn Qu, chairman and CEO of Canadian Solar, said: “As a global company with strong financial backing and close to 700MW of Canadian Solar modules installed in over 30 countries, we’re very excited to have been offered these contract offers with our partners under Ontario’s progressive FIT program. The 176MW of contract offers is a good start for Canadian Solar to help fight against climate change in Canada, including the goal of eliminating coal-fired power generation in Ontario by 2014.
“These projects, which represent 28% of the total approvals awarded to date, are also a good first step in Canadian Solar developing a leading market share position in Ontario. The projects that have received contract offers, and the ones still awaiting initial approval, are expected to create jobs in the province, including local manufacturing by Canadian Solar and its partners, as well as in engineering, construction, electrical, project development and other related services.”
Canadian Solar expects that it will establish a module manufacturing facility in Ontario by the first quarter of 2011, which is expected to employ approximately 500 people.
Once final approval is obtained, the OPA will buy 100% of the power and renewable energy credits from the Canadian Solar projects under the FIT program.
