The project follows the Starwood SSM1, a 20MW AC project that came online in October 2010 and Starwood SSM2, a 30MW AC facility expected to be completed during third quarter of this year.
Starwood SSM3 is contracted under the renewable energy standard offer program developed and overseen by the Ontario power authority and will connect to local utility PUC Distribution.
The project construction financing and long-term loan facility is being provided by Norddeutsche Landesbank Girozentrale.
The North American subsidiary of Q-Cells will construct the project on a turn-key basis and provide operations and maintenance services post-completion.
Equity financing for Starwood SSM3 will be provided by Starwood Energy Infrastructure Fund and its affiliates.
The facility is scheduled to be operational by the end of this year.
Starwood Energy Group Global is a private investment firm focused on energy infrastructure projects.
