Apr 27 2010
SunEdison, a division of MEMC Electronic Materials, Inc. (NYSE: WFR), announced today that it will be developing and constructing up to fourteen (14) roof-top solar photovoltaic (PV) projects with capacity totaling up to 3 Megawatts (MW) for The Remington Group, one of the leading real estate developers in Ontario.
Under the agreement, SunEdison will finance, build, own, operate, monitor and maintain photovoltaic solar energy systems hosted at Remington facilities, and the Ontario Power Authority (OPA) will purchase the energy produced under the terms of Ontario’s Feed-in Tariff Program (FIT).
The fourteen roof-top PV systems will all be located in the Greater Toronto Area, and will be launched using a phased rollout plan starting in the Summer of 2010. Over 20 years, the systems will generate sufficient energy to avoid the emission of over 42,000 tonnes of CO2 into the atmosphere--the equivalent of removing over 9,000 cars from the road for one year.
The Remington Group’s commitment to environmentally-friendly, sustainable growth practices is well established in Ontario. “Green energy has been and will be a key focus for Remington,” commented Christopher Bratty, President of the Remington Group.
“We chose SunEdison based on their track record of successful solar PV system installations,” continued Bratty. “They have tailored a solar program for Remington that will drive revenue from rooftop space that would otherwise be unused. It’s a win-win for everyone.”
“We are excited to have been selected by Remington,” commented Jason Gray, Canada Country Manager for SunEdison. “I’m pleased to see the momentum building in Ontario for clean, financially-rewarding solar energy. And, with respected companies like the Remington Group leading the way, others are sure to follow.”