Aug 7 2010
SunEdison, a unit of MEMC Electronic Materials Inc., has signed an agreement with CanFirst Capital Management; a Toronto, Ontario-based privately owned realty company to plan and construct roof top photovoltaic projects at its premises.
The agreement will entail SunEdison to fund, and construct PV energy systems to produce 1.5 MW power over the roof top of CanFirst Capital Management, operate the systems and produce power. The produced power will be retailed to the Ontario Power Authority (OPA) for a fixed price for a period of 20 years as per the terms and conditions of Ontario's Feed-in Tariff Program (FIT). CanFirst Capital Management, on its part will not make any capital investment for the project, but disburse rental for the roof-top space leased out.
Paul Braun, CanFirst Capital Management’s Managing Director, confirmed the commitment of the company, in sustaining the initiatives of Ontario in tapping renewable energy sources. He added the company views the agreement, as an opportunity to appreciate the economic value of its client’s properties. He further remarked that they have chosen SunEdison purely on merit after understanding their involvement, and in-depth knowledge in developing such solar projects.
Jason Gray, SunEdison’s Country Manager for Canada, said that his company is committed to complete the solar installation processes of its clients flawlessly, and has completed more than 350 such installations all over the world with acquired skill and experience. He added that his company is waiting to complete the project of CanFirst to help them reach their goal of supporting renewable energy.