Solar

Peterborough Utilities To Build 10-MW Solar Farm

ICP Solar Technologies, has announced that Epod Solar, a British Columbia company, has entered into an agreement with Peterborough Utilities Inc.(PUI) to construct a 10 MW solar farm on Lily Lake Road in Peterborough, Ontario worth in excess of CAN $30 million. Construction is expected to begin within one month.

Subsequent to the closing of the previously announced transaction between ICP Solar and Epod Solar, the PUI agreement will be assigned to ICP Solar.

Earlier this year, ICP Solar and Epod Solar reached an agreement under which Mike Matvieshen takes the position of chairman and CEO of ICP Solar, replacing Sass Peress who will remain as president of the solar consumer goods subsidiary and as a board member.

“ICP Solar is very excited about the potential opportunity to be a partner in this state-of-the-art initiative to build a facility employing the latest in thin-film photovoltaic solar technology,” Matvieshen said.

Founded in 1914, the Peterborough Utilities Commission (PUC) operated in Peterborough for more than 85 years as a not-for-profit organization. Restructured in 2000, the PUC became part of the Peterborough Utilities Group with a number of new companies established within the group including Peterborough Utilities Inc. which manages electrical generation and retail services.