Recurrent Awarded 154.5-MW of Solar Power Projects by OPA

Recurrent Energy has been awarded 154.5 megawatts (MW) AC of distributed solar power projects by the Ontario Power Authority (OPA) under a new Feed-in Tariff program that is part of the landmark Green Energy and Green Economy Act.

Recurrent Energy will finance, build, own and operate the photovoltaic (PV) solar power systems, using equipment and services meeting the 60 percent domestic content requirements of the Feed-in Tariff program.

The company expects to invest well over US $400 million in solar modules, electrical equipment, steel and metal fabrication, as well as related services such as installation and project management.

The OPA will buy 100 percent of the power and renewable energy credits (RECs) from Recurrent Energy’s solar projects located in the Counties of Simcoe, Lanark, Middlesex, Oxford, and the United Counties of Leeds and Grenville. The projects are expected to be completed in 2011 and early 2012.

“Ontario’s renewable energy policy leadership, including the goal of eliminating coal-fired power generation by 2014, makes the province an attractive area for renewable energy economic development and investment, which we are excited to be a big part of,” said Arno Harris, CEO of Recurrent Energy.

This establishes Recurrent Energy as the largest distributed solar power project developer in Ontario under the OPA’s Feed-in Tariff Program. This award by the OPA and the Government of Ontario will result in Recurrent Energy and its partners contributing to the creation of over 2,500 jobs in the province including local manufacturing, engineering, construction, electrical, project development and related services.

Recurrent’s awards are part of a series of contract offers that the Ontario government awarded this week for more than 180 renewable energy projects. Approved under the province’s Feed-in Tariff (FIT), the projects are part of the largest green energy investment of its kind in Canadian history. The projects represent almost 2,500 megawatts of renewable energy.

Seventy-six of the approved projects are ground-mounted solar photovoltaic, 47 are on-shore wind and 46 are hydropower projects. There are also seven biogas, two biomass, four landfill gas, one roof top solar and one offshore wind projects.

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