SkyPower & SunEdison Secure Financing for First Light Project

SkyPower and its joint venture partner, SunEdison announced they have secured financing with Nord/LB for a 9-megawatt (MW) solar power project being developed by a joint venture between the two companies in Ontario. The project, is being built on approximately 178 acres of land in Lennox & Addington County, Ontario, Canada. Details on the amount of funding were not made public.

This is a first stage of a 19-MW solar park that SkyPower and SunEdison said they expect to be completed by the end of 2009. The power generated from the project will be distributed through the Hydro One utility, providing energy to customers in the Township of Stone Mills in Ontario for 20 years.

“We are very pleased to be the home of one of the first solar projects under Ontario’s Renewable Energy Standard Offer Program. The First Light project is a significant development for Lennox and Addington County. It creates employment and results in significant economic impact. Our community is proud to be a partner of SkyPower and SunEdison,” said Gord Schermerhorn, Warden of Lennox and Addington County.

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