SunEdison, the solar energy subsidiary of MEMC Electronic Materials Inc. (NYSE: WFR), said that construction has started on the 10 MW SunE Rutley solar power project in Ontario. This is one of the first utility-scale solar photovoltaic (PV) projects to begin construction as part of Ontario's Feed-in Tariff (FIT) program. Under the program, participants are paid a fixed-price for the electricity they generate over a 20 year contract period.
The 42,000 solar PV panels used for the project will be supplied by MEMC and will be manufactured in Ontario.
The solar power plant is expected to begin transmitting energy by December 2011 to Hydro One, Ontario's largest electricity transmission and distribution company.
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