Note: APCo buying them when they reach FIT Contract, but probably paying an option fee for the ones in the queue.
Algonquin Power to acquire 10 MW PV project |
28.11.2011: Canadian utility Algonquin Power & Utilities Corp. announced that its power generation subsidiary Algonquin Power Co. (APCo) has signed an agreement with Canadian solar power project developer EffiSolar Energy Corp. to acquire Cornwall Solar Inc., a 10 MW (AC) solar power project near Cornwall, Ontario. Under the terms of the agreement, APCo also has the option of acquiring 10 additional solar projects being developed in Ontario. Feed-in-tariff (FIT) applications have been submitted for all 10 of the projects, which have a combined capacity of 100 MW (AC). The $45 million Cornwall project has already been granted a 20-year Ontario FIT contract by the Ontario Power Authority. Construction on the project is expected to begin in the second half of 2012 and should be completed by early 2013. The transaction is expected to close by the end of 2011. … Source: Algonquin Power & Utilities Corp. ; Summary : PHOTON http://www.algonquinpower.com http://www.algonquinpower.com/newsroom/2011.asp#NOV27-2011 The complete press release can be viewed in PHOTON's archive using the following link:
http://www.photon-international.com/newsletter/document/57309.pdf |
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Monty Bannerman
ArcStar Energy
646.402.5076
www.arcstarenergy.com
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