As per the agreement, SunEdison will finance, build, own, operate, monitor and maintain photovoltaic solar energy systems with capacity totaling 2.1MW. They will be hosted at LaSalle Investment Management facilities, and the Ontario Power Authority (OPA) will buy the energy produced under the terms of Ontario’s Feed-in Tariff Program (FIT).
LaSalle Investment Management will receive lease revenue for roof-top space allocated to the projects, without any upfront capital equipment costs.
The eight roof-top PV systems will be launched starting in the late summer of 2010, with the majority of installations completed by the end of 2010. Over 20 years, the systems will generate sufficient energy to avoid emitting an estimated 9.9 million kilograms of CO2 in the atmosphere.
The majority of projects will be located in the Greater Toronto Area (GTA) including Burlington, Toronto and Woodbridge, with additional systems located in both Lindsay and Kanata.
Sam Barbieri, vice president of Asset Management at LaSalle, said: “The solar PV projects in Ontario represent an important step in meeting our goals. We are dedicated to helping establish responsible energy policy around the world, and doing all we can in our own operations to use resources wisely. We envision that this model for solar deployment can be successfully replicated in many other markets as well.”
