Financial-District-based SkyPower Ltd. was among the pioneers of solar energy in Ontario. In 2009, they were partners in
First Light I, the first utility-grade solar farm to become operational in Canada.
Now the company has announced that it has secured $70 million in financing from New York's Deutsche Bank for two new solar farms in the province, to be located in Stone Mills and Thunder Bay. "We are so proud to close financing on our fourth and fifth solar projects and to solidify the arrival of this new era of renewable energy in Ontario," said SkyPower president and CEO Kerry Adler, saying the company's local success was a tribute to how Ontario's green energy policy is working. "We look forward to the closing of financing on many more solar projects in the months ahead and helping provide a cleaner, brighter future for generations to come."
The two projects, scheduled for completion in mid-2011, are expected to generate 19 million kilowatt hours in their first year, enough to power 33,000 homes.
Writer: Edward Keenan
Source: Hando Kang, SkyPower