AWSL solar parks receive gov approval

The Ontario Power Authority (OPA) has formally approved three of Atlantic Wind & Solar Inc.’s (AWSL) initial Capacity Allocation Exempt (CAE) Power Purchase Agreement (PPA) applications, allowing the advancement of its first Ontario-based, rooftop solar energy parks. These first three, fully processed, wholly owned, Feed In Tariff (FIT) contracts represent approximately USD 13 million in secured gross revenues for the Company and its financial partners. They are the first of approximately 150 large, utility scale, rooftop solar energy projects the Company has been working for the past two years. AWSL is currently in the process of completing final engineering and procurement for each of the projects and will announce construction commencement dates shortly. It is expected that all three projects will be completed in 2011.

 

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