July 25, 2011—Solar Power Partners (SPP), independent solar power producers, and JCM Capital, a financial advisory company that focuses exclusively on financing solar energy projects in Ontario, Canada, have jointly announced they have signed an agreement with AVACOS Clean Energy (AVACOS), to provide long-term equity financing for the development and turnkey construction of up to a 20 MW portfolio of commercial-scale rooftop installations located throughout Ontario.
The agreement follows the recent SPP-JCM announcement on the launch of their Solar Fund to develop, finance, own, and operate 200 MW of solar projects in Ontario, bringing the current portfolio volume to 70 MW. SPP and JCM have already initiated 54 MW of projects, some of which will be developed by AVACOS, which will start construction in 2011. The fund focuses on the installation of solar projects on large commercial and industrial buildings across Ontario, utilizing the province’s Feed-in-Tariff program via solar power purchase agreements (PPA) with the Ontario Power Authority.
In addition to future projects, the fund seeks to identify projects that can start construction in 2011.
