June 24, 2013 View PDF Version
VANCOUVER - Solar Flow-Through 2012-I Limited Partnership (“Solar Flow-Through”), a limited partnership with offices in Vancouver and Toronto, reports that 70 applications with the Ontario Power Authority (OPA) to develop solar power projects totaling 16.82 MW AC in the Province of Ontario have moved to final Stage 4 assessment. The 70 applications, submitted by Solar Flow-Through’s network of six solar developers, were made under the OPA’s Feed-in-Tariff (FIT) program. FIT contracts with the OPA provide fixed purchase rates for solar power and are guaranteed by the OPA for 20 years.
The Final Stage Approval Process
In the final Stage 4 of the application review approval process, the local electrical companies screen each project under the transmission availability test (TAT) and distribution availability test (DAT) against the local electrical grid’s capacity. If a project passes both tests, and there is sufficient room left in the contract capacity that applies to their project type, the OPA will issue a FIT contract.
Working with First Nations and Community Co-operative Partners
Solar Flow-Through’s network of solar developers submitted 126 projects to the OPA for approval in January 2013. Two First Nation bands as well as a community co-op were partners in the applications. All projects submitted were commercial rooftops and were 500 KW AC or less (“Small FIT”), which was the limit set by the OPA for Small FIT. All 16.82MW AC of the applications that were approved for final Stage 4 assessment involved Solar Flow-Through’s First Nation and community co-operative partners. In addition to these projects awarded by the OPA, Solar Flow-Through intends to obtain economic interest in other solar developers’ Small FIT projects that receive contracts from the OPA in this round.
Ontario Renews its Commitment to Renewable Energy
The Province of Ontario has renewed its commitment to small renewable energy projects by making 900 MW of new capacity available, between now and 2018, for the Small FIT and microFIT programs. The OPA has stated that a fall 2013 procurement window will include at least 70MW for Small FIT projects. Starting in 2014, Small FIT annual procurement targets will be set at 150 MW. In addition, Ontario has stated that it will develop a competitive procurement process for projects over 500 kW AC. Solar Flow-Through will leverage its strategic partners and intends to work directly with municipalities to identify appropriate project sites for new solar energy projects in these upcoming rounds.
Next Round of Financing for $10,000,000
As a result of the large number of its Small FIT 2 project applications proceeding to final Stage 4 assessment, Solar Flow-Through intends to conduct a second Flow Through Limited Partnership offering in the summer of 2013 for up to $10,000,000.
About Solar Flow-Through
Solar Flow-Through, a Canadian-based partnership with offices in Vancouver and Toronto, was formed to develop and operate solar photovoltaic (solar PV) power generation projects in the Province of Ontario. Solar Flow-Through’s investment objective is to provide investors with favourable income tax benefits during the development phases of solar PV projects, followed by steady and attractive income once commercial operations begin. For more information, visit www.solarflowthrough.com.
ON BEHALF OF THE BOARD:
Matt Wayrynen, CEO
Solar Flow-Through 2012-I Limited Partnership
CONTACT:
Matt Wayrynen
Solar Flow-Through 2012-I Limited Partnership
info@solarflowthrough.com
T 604 682 3701
www.solarflowthrough.com
