The funds will be utilized for rooftop installations on large commercial and industrial buildings in the city, which is expected to begin this year.
The companies also launched their investment fund, SPP-JCM Capital Solar Fund through which it plans to develop, finance, own and operate 200MW of solar projects in Ontario, bringing the current fund volume to 50MW.
The Fund will use the province’s feed-in-tariff program through solar power purchase agreements with the Ontario Power Authority.
SPN CEO Peter Goodman said this investment vehicle will help develop a network of clean electricity created through solar installations in industrial areas right where the highest usage of energy exists.
JCM Capital is a financial advisory company that focuses exclusively on financing solar energy projects in Ontario.
