Bitterfeld-Wolfen, 11. Januar 2010 - Q-Cells International Canada, an affiliate of Q-Cells SE, has been contracted with the delivery of two 10 megawatt (MW) solar photovoltaic systems in the City of Sault Ste. Marie, Ontario, Canada. The turn-key project will also include operations and maintenance services for the systems.
Starwood Energy Group Global, LLC ("Starwood Energy"), a private investment firm focused on energy infrastructure projects, on January 7, 2010 announced that its affiliate, Starwood SSM1 Canada Incorporated ("Starwood SSM1") has completed agreements to finance and construct a 20 megawatt (MW) solar photovoltaic project in the City of Sault Ste. Marie, Ontario, Canada. The project, which will consist of two 10 MW solar photovoltaic systems, is contracted under the Renewable Energy Standard Offer Program developed and overseen by the Ontario Power Authority ("OPA") and will connect to local utility PUC Distribution, Inc. The project, when complete, will be among the largest completed in North America.
The construction financing for the project is being provided by Norddeutsche Landesbank Girozentrale ("Nord/LB"), a leading financier of renewable energy projects.? The turn-key project including operations and maintenance services is being delivered by Q-Cells International Canada, an affiliate of Q-Cells SE. Starwood SSM1, which is providing equity financing for the facilities, recently acquired the project from Pod Generating Group ("Pod"), a developer of community-scale solar power generating facilities and the original developer of the project.
For each of the two new 10 MW solar facilities, Pod was awarded a 20-year power purchase agreement (PPA) under the OPA’s Renewable Energy Standard Offer Program (RESOP). Local jobs will be created for engineering, construction and ongoing management, operations, and maintenance of the new solar facilities, which are scheduled to be operational in the third quarter of 2010.
"This partnership demonstrates Q-Cells International’s ability to work with global leaders and local developers in delivering high-performance large scale solar systems," said Q-Cells International Canada President Boris Schubert. "We are impressed by Ontario’s commitment to deliver clean energy and look forward to continuing our engagement in Ontario."
Source: Q-Cells International