The fund, which will focus on solar projects installed on large commercial and industrial buildings across Ontario, will utilize Ontario’s Feed-in-Tariff program with solar Power Purchase Agreements (PPA) from the Ontario Power Authority.
The team has already initiated 20MW of projects to start construction in 2011, thereby bringing much needed capital and experience to the Ontario solar market, which has more projects than funding at present.
The team that has already conducted extensive solar power projects and financial execution in the US seeks to identify projects that will start construction in 2011 in Canada, in addition to the new solar power projects.
Solar Power Partners vice president of project development for Canada Roy Schwartz said that financing can be a bottleneck for projects, so it’s key to work with companies that understand technical aspects, ensure building and land safety, and have project funding available.
