Jan 12 2010
EDF EN Canada – an EDF Energies Nouvelles Company (PARIS:EEN) today confirmed that it has reached commercial operation and closed financing for the Arnprior Solar Project – one of North America’s largest solar photovoltaic (PV) projects.
The 23.4 MWdc solar PV site, located on the western side of the City of Ottawa, Ontario, consists of 312,000 panels and is expected to generate clean solar energy to meet the peak demands of about 7,000 Ontario homes. In addition to achieving commercial operation, EDF EN Canada has also executed term financing agreements with Dexia and Union Bank, N.A.
EDF EN Canada developed the Project on two adjacent properties as part of the province’s Renewable Energy Standard Offer Program. Site activities employed more than 150 people in the community once design, engineering and construction commenced in May, 2009.
Tristan Grimbert, President and CEO of EDF EN Canada and all EDF EN affiliates in North America said, “Today marks a significant milestone for EDF EN Canada – we are proud to bring the economic and environmental benefits of solar energy to Eastern Ontario and fulfill our promise to pioneer solar project development in Canada. This achievement demonstrates our commitment to succeed with local partners. It’s a success we share with many individuals and companies in Ontario who have dedicated their time and talents to serving the Ontario solar market. Arnprior proves the unique abilities of EDF EN Canada to commercialize a flagship solar PV project in a matter of a few months. Our relationship lenders once again have demonstrated their support of our efforts and renewable energy. We look forward to applying our resources, experience and partnership capabilities to the FIT groundmount and rooftop development in 2010 and beyond.”
“It has been our pleasure to support EDF EN over the years, and particularly with this project,” said Lance Markowitz, Senior Vice President at Union Bank and Manager of Leasing and Asset Finance. “We are particularly excited to have played a key role in the financing of the Arnprior Solar Project as it extends EDF EN’s leadership in the renewable energy industry to the Canadian solar market.”
Alban de La Selle, Managing Director and Head of Dexia Credit Local Canada Branch added, “Dexia is very pleased to take this opportunity to further evidence its commitment to finance the solar energy sector, where the bank has long been a pioneer in Europe. The Arnprior Solar Project will certainly be a landmark in the growing solar industry in Ontario, and we hope it will blaze the trail for many others under an appropriately tailored FIT program, and hopefully for other Canadian provinces.”