The agreement between the two companies was spurred somewhat by the recently passed feed-in-tariff program, which the Ontario Power Authority describes as "North America's first comprehensive guaranteed pricing structure for renewable electricity production."
According to Rafael Dobrzynski, CEO of Enfinity Corp, the new tariff is designed to reward investors with incentives for distributed rooftop solar structures and will create "predictable power for stable and secure investments."
ECD will provide the UNI-SOLAR photovoltaic laminates and PowerTilt products for the materials, while Enfinity will lead the acquisition and financing for the projects, which will be sold to permanent equity owners upon commercial operation.
"This co-development approach in Ontario is a further example of our demand-creation strategy where we will partner on solar projects that have attractive rates of return for project investors," said Mark Morelli, ECD's president and CEO. "The Ontario Power Authority has demonstrated an impressive commitment to the promotion of renewable energy development and ECD intends to be a major player in the province in the years to come."
The companies expect to construct approximately 10 megawatts worth of rooftop solar installations across the Province by the end of 2010.
