“Ontario’s renewable energy policy leadership, including the goal of eliminating coal-fired power generation by 2014, makes the province an attractive area for renewable energy economic development and investment, which we are excited to be a big part of.”
Recurrent Energy will finance, build, own and operate the photovoltaic (PV) solar power systems, using equipment and services meeting the 60 percent domestic content requirements of the Feed-in Tariff program. The company expects to invest well over US$400 million in solar modules; electrical equipment; steel and metal fabrication; and related services such as installation and project management. The OPA will buy 100 percent of the power and renewable energy credits (RECs) from Recurrent Energy’s solar projects located in the Counties of Simcoe, Lanark, Middlesex, Oxford, and the United Counties of Leeds and Grenville. The projects are expected to be completed in 2011 and early 2012.
“As a global company with strong financial backing and over 1,000MW of distributed-scale projects in development, we offer economies of scale and expertise that are attractive to our utility customers,” said Arno Harris, CEO of Recurrent Energy. “Ontario’s renewable energy policy leadership, including the goal of eliminating coal-fired power generation by 2014, makes the province an attractive area for renewable energy economic development and investment, which we are excited to be a big part of.”
The projects in Ontario will contribute to the development of Ontario’s green energy economy, diversify income for Ontario farmers and businesses, and shift energy generation investments away from coal-fired to renewable energy power plants.
“We have been actively developing solar power projects across Ontario for several years and will continue to work with our partners and communities to ensure that the projects bring economic development to the region,” said David Brochu, Vice President of Development for the Eastern Region of North America at Recurrent Energy. “Our distributed-scale projects allow us to deliver a large amount of aggregate solar power with minimal impact on the land, while generating significant economic and environmental benefits for us all.”