Atlantic Wind and Solar Advances Rooftop Solar Project

Atlantic Wind and Solar Inc. of Toronto entered into a leasing agreement with a top Canadian metal manufacturing company, located in the City of Milton, that will advance a 50,000-square-foot commercial rooftop project, which will feature Atlantic's highly efficient 250kW photovoltaic (PV) solar energy systems.

"Today's update not only represents the advancement of another project from AWSL's extensive pipeline, but perhaps most notable—represents the first project to have entered into its final pre construction stage which was introduced and processed by one of North America's largest commercial real estate brokerage firms,” said Brent O'Connor, Geneva Bancorp investor relations director for AWSL.

The rooftop solar system is expected to generate a 20 year revenue stream, representing approximately $6 million under the province's Feed in Tariff (FIT) program. Atlantic Wind and Solar is the sole benefactor of generated revenues.

Atlantic Wind and Solar Inc. now waits the pending the Ontario Power Authority's (OPA) Power Purchase Agreement.

“This process included overseeing pre feasibility studies, structural engineering reports, proposals, rooftop assessments, long term lease agreements financing, insurance and finally the submission to the OPA for the power purchase agreement. Construction on this project and others is expected to commence immediately upon FIT contract approval," said O’Connor.

With multiple payment options catering to clients, Rooftop Solar Programs Atlantic Wind and Solar partners with landlords to capitalize on their unused commercial rooftop space for the use of utility scale solar energy parks.

Source: Marketwire