Feb 16 2011
A Joint Venture Partnership by name, KH Solar has been formed between Kruger Energy and Helios Energy, for developing large-scale rooftop solar systems in the North American region.
The focus would be on developing the systems and then transferring the ownership rights to Kruger Energy, who would in turn operate them with the help of long term leases signed with the owners of the buildings. The system installations would be on industrial and commercial rooftops employing a ballasted mounting technology, which would not infiltrate through the building’s roof membrane. The joint partnership would also work in developing rooftop solar energy systems for those who are interested in owning the system.
This venture marks the entrance of Kruger Energy into the solar energy market with intentions of ownership and operation of a solar energy facility portfolio. According to the Vice President of Helios Energy, Winston Bennett, the joint venture, KH Solar, due to its financial strengths, solar and renewable energy expertise and Canadian ownership has a unique standing in the solar industry in Canada. Of more importance was the fact that KH Solar would be developing efficient solar energy systems for both industrial and commercial real estate owners.
This venture would unite both the design and solar development expertise of Helios Energy and Kruger Energy’s operational experience and comprehensive investment abilities. Kruger Energy’s General Manager and Vice President, Jean Roy, commented that the addition of solar energy to their widespread renewable energy portfolio was the next step for the company. Kruger with more than 420 MW of installed capacity has both the financial might and a well established track record for a successful foray into the market. He also mentioned that the company was happy to be a partner to Helios Energy for adding to their solar plants in Canada.