SunEdison, a division of MEMC Electronic Materials Inc., has purchased two ground-mounted solar photovoltaic development projects in Ontario from TransAlta, a publicly traded generator and marketer of electricity and renewable power.
Under the terms of the sale, SunEdison acquired more than 300 acres of land across two sites near Sandhurst, Ontario (south of Napanee). The first site will be used to develop and construct a 10 MW Renewable Energy Standard Offer Program (RESOP) project. The second site will be developed for Ontario's feed-in-tariff (FIT) program.
SunEdison will finance, build, own, operate, monitor and maintain the solar energy systems. The Ontario Power Authority will purchase the energy produced under the terms of Ontario's RESOP and FIT programs, both enabled by Ontario's Green Energy Act. SunEdison will work with Hydro One, Greater Napanee officials and the local community to begin construction on the RESOP project in early 2011.
SOURCE: SunEdison
