This company said that this acquisition is part of its ongoing activities to accelerate the development of solar PV projects in Ontario.
Under the terms of the sale, SunEdison acquired more than 300 acres of land across two sites near Sandhurst, Ontario (south of Napanee). The first site will be used to develop and construct a 10MW Renewable Energy Standard Offer Program (RESOP) project. The second site will be developed for Ontario’s Feed-in-Tariff (FIT) program.
SunEdison will finance, build, own, operate, monitor and maintain the solar energy systems. The Ontario Power Authority will purchase the energy produced under the terms of Ontario’s RESOP and FIT programs, both enabled by Ontario’s Green Energy Act.
SunEdison will work with Hydro One, Greater Napanee officials, and the local community to begin construction on the RESOP project in early 2011. It is estimated the system will offset more than 50 million kilograms of CO2 over the initial 20 years of operation. The timing for the deployment of the FIT project will be determined at a later date, the company said.
Jason Gray, Canada country manager for SunEdison, said: “We are excited to have purchased these solar photovoltaic development projects. SunEdison has a successful record of utility-scale solar PV system installations. We have the proven ability to bring solar energy projects to fruition and to do so quickly, so that we can all enjoy a cleaner, greener Ontario.”
Laura Formusa, CEO of Hydro One, said: “We are pleased to see SunEdison continue their efforts in developing solar PV projects in Ontario. Their expertise in solar has been a benefit to the province and we look forward to working with them in interconnecting another one of their projects.”
