Developers finance 108 MW solar energy portfolio in Ontario

National Bank Financial Inc. and Sun Life Assurance Co. of Canada closed financing totaling $390 million for a 108 MW portfolio of solar photovoltaic projects under development by Recurrent Energy, in Ontario, Canada.

The portfolio consists of ten solar energy sites, known as Project Borealis, which is currently under construction and expected to be completed in early 2014.

Each of the sites has received an Ontario Feed-in-Tariff (FIT) contract and upon commissioning, the generated energy, sufficient to power about 10,800 homes, will be sold to the Ontario Power Authority (OPA) at a fixed rate of 44.3 cents per kWh for the next 20 years.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs