Recurrent Energy Enters Solar Module Supply Accord with Celestica

Recurrent Energy stated that it has entered into an accord with Celestica for the delivery of solar modules required by it for completing the projects it was awarded under the renewable energy Feed-in Tariff (FIT) agenda of the Ontario Power Authority (OPA).

Celestica will produce the solar modules at its Toronto manufacturing facility and supply the modules required by Recurrent Energy under the multi-year supply accord. Full-fledged manufacture of the modules is anticipated to commence from summer 2011.

Celestica will manufacture crystalline silicon solar photovoltaic modules and supply them for use in the 19 solar power plants to be constructed by Recurrent Energy under the OPA FIT program. To become eligible to receive the award under the program, the installation should carry and use considerable portion of domestically produced products.The financial terms of the accord is not divulged.

Recurrent Energy is anticipated to invest hundreds of million dollars in the growth of the 19 solar power projects. The amount will be spent on purchase of solar modules, steel metal fabrication requirements, electrical equipment and on erection and project administration services. The investments are anticipated to produce over 2,500 jobs directly related to FIT projects in Ontario.