TORONTO: SunEdison will develop and build industrial and retail rooftop solar photovoltaic (PV) projects for CanFirst Capital Management, a private Toronto real estate company.
The agreement between the two companies will see SunEdison, a division of MEMC Electronic Materials, with headquarters in Beltsville, Md., finance, build, own, operate, monitor and maintain photovoltaic solar energy systems with a total capacity of 1.5-megawatts.
The Ontario Power Authority will purchase the energy produced by the systems under the terms of the province’s Feed-in Tariff Program (FIT).
CanFirst will receive lease revenue for rooftop space allocated to the projects.
Construction of the seven roof-top systems located in Burlington, Markham, Mississauga, Richmond Hill, Oakville and Toronto, begins in the fall with most of the installations to be completed by next spring.
SunEdison, which has operations based in Toronto, estimates the energy generated by the solar systems will reduce CO2 emissions by 6.2 million kilograms.
No financial details were provided.