The projects will provide clean solar electricity to the Ontario Power Authority for the next 20 years through feed-in tariff agreements. During the first year of operation the projects are collectively expected to generate enough electricity to power more than 13,300 homes.
The development and operation of the projects, located near Barrie and London in Southern Ontario, have provided the communities with local investment and both short-term and long-term job creation. In aggregate, the portfolio created more than 1,600 jobs. The final project is expected to reach commercial operation in spring 2014.
“These projects are ten of twenty-three projects Recurrent Energy has brought online in the last year – bringing our total operating portfolio to more than half a gigawatt globally” said Arno Harris, CEO of Recurrent Energy. “Completing our 220 megawatt Ontario portfolio represents years of hard work and collaboration with our financial partners and numerous stakeholders in Ontario and local communities.”
Fiera Axium Infrastructure and MetLife, Inc. affiliates announced a joint commitment in October 2013 to acquire eight of the projects with Fiera Axium acquiring the remaining two. The acquisition was completed following commercial operation of the projects.
John Gorman, President and CEO of the Canadian Solar Industries Association, said that solar energy enjoys significant public support in Ontario. The state’s solar targets have been set by its Long Term Energy Plan which will help to provide stability to the solar industry in the near term as solar costs continue to decline.
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