The approximate $130m project will be primarily funded by a syndicate of international lenders with approximately $33m of equity to be contributed by MPT upon the start of commercial operations, which is anticipated to be in June 2011.
When completed, the Amherstburg Solar Park is expected to produce approximately 37,600MWh of electricity annually, which is enough to power approximately 4,000 homes. Construction of the Amherstburg Solar Park is expected to start immediately.
SunPower will also provide operations and maintenance services for the facility under a 20-year contract. Electricity generated by the facility will be sold under the Province of Ontario’s Renewable Energy Standard Offer Program to the Ontario Power Authority at a guaranteed price of $420 per MWh for the next 20 years.
Howard Wenger, president of utilities and power plants at SunPower, said: “We are delighted to partner with MPT to help Ontario meet its growing electricity demand with clean, locally produced power. SunPower’s high efficiency photovoltaic technology is competitively priced for electric utility power plant applications, fast to install and reliably delivers clean power during peak demand periods.”
The Amherstburg Solar Park will use SunPower solar panels, which generate up to 50% more electricity than conventional solar panels and up to four times as much power as thin-film solar technology. The Amherstburg Solar Park will also use the proprietary single-axis SunPower Tracker T20 system.
