Company spearheaded pilot program that will spur demand by land developers
TORONTO/ MIAMI, February 10, 2014 – Conergy, one of the world's largest downstream solar companies, and its development partner Envision Companies announced today that its customers received FIT contract offers for 6.6 MW of projects to be installed on the rooftops of 22 to-be-constructed buildings across the province of Ontario. The projects were approved for participation in the Ontario government's Feed-In-Tariff 3.0 program according to the specifications of the Unconstructed Rooftop Solar Program (URSP), which had a total allotment of 15 MW AC.
The URSP was initiated under the terms of FIT 3.0, which was launched November 2013. The program enables developers to apply for FIT rooftop subsidies for buildings that are yet to be constructed. This flexibility offers huge potential in a province that developed over $28 billion worth of residential and non-residential buildings in 2013. Ontario was Canada's leading province for total value of building permits issued, with over 35% of the national share in new construction.
Conergy and Envision were instrumental in the creation of the URSP program which opens new avenues to solar developers, who can now move more decisively at earlier stages in their projects, without having to wait for actual construction to be completed. Through this program, Conergy and Envision are able to help with the financing and construction of planned construction projects.
Jared Donald, President of Conergy Canada said: "We are proud to have taken part in the successful development of this program which will increase the property tax base of local communities, provide additional operational flexibility for landowners in supporting their existing businesses while adding more jobs and an overall increased economic benefit versus solar installations on existing rooftops – all for the same FIT rate."
Brian Gruis, President of Envision Companies, added: "We applaud the Ontario government's leadership in bringing forward this program. Our view is that the future of solar must include new building construction considerations and this program is a great step in advancing that market opportunity".
Conergy's success in Ontario newbuild rooftop market reflects its strength globally in identifying and developing early-stage solar markets. By developing strong partnerships with companies like Envision, Conergy is able to bring projects to reality with its strong balance sheet and capital investments. As a global company, Conergy develops, finances, builds and services solar projects around the world.
Conergy is one of the world's largest downstream solar companies, specializing in the design, finance, build and operation of high performance solar systems for homes, businesses and utility-scale power. Founded in 1998, the company pioneered the expansion of solar power internationally, and today combines innovative technology, industry-leading engineering with access to capital. Headquartered in Hamburg, Germany, Conergy has a global sales network and established subsidiaries in 11 countries. The company is privately-held and majority-owned by Miami-based asset management firm Kawa Capital Management, Inc.
About Envision Companies
Envision is a boutique project development firm whose principals have more than 35 years' experience in the renewable energy and construction industries. This history provides vast knowledge in facilitating real estate and construction transactions across North America.