EPOD is a vertically integrated solar energy company that develops and operates a portfolio of solar parks in Europe and North America. EPOD’s business covers phases of solar power business operations from panel manufacturing to power generation.
It manufactures solar panels for deployment in its own solar parks and installs the solar panels through its internally developed expertise. EPOD also manufactures and sells solar parks to third party clients.
Peterborough Utilities, an Ontario, Canada based utility company owned by the city of Peterborough, has an option agreement to sell solar parks for over $32m with EPOD.
Northland Power, a Canadian developer, operator, and owner of power plants with 459MW of power generating projects in operation or under construction and over 3,600MW in development has a binding term sheet in place for the installation of up to 73MW worth of solar parks with EPOD and whereby Northland Power would contribute 55% of the build out costs.
Aecon Construction, a Canadian publicly traded construction company, has an MOU in place for the co-development of solar parks with EPOD, whereby Aecon Construction will be responsible for the construction activities and will contribute up to 20% of the equity needs of 20MW of solar parks.
EPOD through its Opti Solar Tech subsidiary owns a 30MW solar panel manufacturing facility in Hayward, California, which utilizes its proprietary amorphous silicon solar PV manufacturing technology and is working with the Canadian, Ontario and German governments in obtaining a grant and loans for a solar panel manufacturing facility in Ontario, Canada and Thuringen, Germany.
Sass Peress, CEO of ICP solar, said: “The senior management of both companies has many years of combined, complementary solar industry experience and the agreements that EPOD has in place with significant strategic partners should greatly assist the combined companies in benefitting from the significant growth of the solar power industry.
“As well, we are still very committed to the consumer goods market and that this merger gives us far greater leverage in vendor supply arrangements than ever before.”
