Partners launch fund for Ontario solar projects
Solar Power Partners (SPP) and JCM Capital have jointly launched a fund to develop, finance, own and operate 200 megawatts of solar projects in Ontario.
MILL VALLEY, Calif.: Solar Power Partners (SPP) and JCM Capital have jointly launched a photovoltaic fund to develop, finance, own and operate 200 megawatts of solar projects in Ontario.
Toronto-based JCM Capital is a financial advisory company that focuses exclusively on financing solar energy projects in Ontario, and Solar Power Partners is a Mill Valley, Calif.-based independent solar power producer. The companies have already launched 20 megawatts of projects that start construction in 2011.
The size of the fund was not disclosed, but it will target solar projects installed on large commercial and industrial buildings across Ontario, and plug into Ontario’s Feed-in-Tariff (FIT) program with solar power purchase agreements (PPA) from the Ontario Power Authority.
The companies said they will provide solutions to smaller developers that are otherwise unable to finance commercial rooftop solar installations.
“Financing can be a bottleneck for projects, so it’s key to work with companies that understand technical aspects, ensure building and land safety, and have project funding available,” said Bob Powell, president and CEO of Solar Power Partners.