Energy & Power
JCM Capital sells 850kW portfolio of Ontario rooftop solar PV projects
By Alyssa Dalton
December 31, 2012 – JCM Capital Ltd. (JCM) has sold an 850kW portfolio of Ontario rooftop solar photovoltaic (PV) projects—originated, developed and financed to commercial operation by the financial company—to BrightRoof Solar LP, an owner of Ontario solar assets.
The portfolio consists of systems located on three commercial buildings, in Mississauga, Guelph and Kitchener. All systems are scheduled to be in service by the end of the year, and the electricity they generate will be sold to the Ontario Power Authority (OPA) under 20-year Feed-In Tariff (FIT) contracts.
“We are very pleased with this sale. BrightRoof is an ideal buyer for these projects, and will be a strong, reliable partner for the building owners over the life of the contracts,” said Christian Wray, CEO of JCM.
The projects are the first to be built under JCM’s strategic partnership with Panasonic Eco Solutions Canada, which is the EPC contractor, and is supplying 3,160 Panasonic SCI 250M/300M crystalline solar modules that were manufactured in Don Mills, Ontario. According to JCM, the projects will provide enough energy to power 110 homes.
“We are pleased to be working with JCM and Panasonic on these three projects, and expect that the Panasonic systems will provide reliable performance for the life of the FIT contracts,” said David Oxtoby, a director of BrightRoof Solar.