July 31, 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 52 of 126 applications filed with the Ontario Power Authority (OPA) to develop solar power projects in the Province of Ontario will receive FIT contract awards under the FIT 2.1 program. FIT contracts with the OPA provide fixed purchase rates for solar power and are guaranteed by the OPA for 20 years.
The project applications to receive contracts from the OPA were filed with various solar development partners and totaled 12.18 MW AC, or approximately 14.62 MW DC. Total capital costs for the projects are forecast to exceed $50 million, and the projects are expected to be developed during 2013 and 2014.
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. Of the 126 initial applications, 70 moved to the final approval stage in June2013. On July 3, 2013, the OPA published the list of projects to receive contracts under Small FIT 2.1 which included 52 projects from Solar Flow-Through’s network of solar developers.
Solar Flow Through will now proceed with new applications for the Small FIT 3 procurement window, which the OPA has stated will begin in the fall of 2013. The OPA has indicated that approximately 123.5 MW AC of contacts will be awarded in Small FIT 3.
Next Round of Financing for $10,000,000
As a result of the large number of applications awarded to Solar Flow-Through and its development partners, 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
