The agreement encompasses installation of several rooftop solar projects in Ontario up to 250kW in size and involves the installation of up to $15m of Hybridyne Power Systems Canada’s renewable energy systems on Remington owned facilities.
The purchase and installation of these renewable energy systems will be financed by a 50/50 joint venture between Remington and Atlantic Wind & Solar through a Limited Liability Partnership (LLP).
These rooftop solar power systems will generate in excess of 1.25MW (peak) of power and will generate a 20 year guaranteed revenue stream under the feed in tariff programme upon issuance of the Ontario Power Authority contract. Remington and Atlantic Wind & Solar will share equally in the revenues from these projects.
