Dynamic news about AMP Solar Group and our impacts globally.
SEPT. 29 2016 - AMP SOLAR GROUP WILL GO TO GREAT HEIGHTS TO HELP OUR CLIENTS REACH THEIR SUSTAINABILITY GOALS
Sept 29, 2016
AMP Solar Group will go to great heights to help our clients reach their sustainability goals.
For Menkes Developments Inc, we took on one of our most ambitious projects to date - an 80kw system on the roof of One York Street - a 35-storey, LEED® Platinum* office development in the heart of Toronto’s downtown core.
The system was meticulously designed using cutting-edge technology to maximize the logistics, safety, and clean-energy generation of this high-rise solar project in Canada’s biggest city.
MAR. 21 2016 - AMP SOLAR ADDS CFO TO LEADERSHIP TEAM OF INDUSTRY VETERANS
March 21st, 2016
NEW YORK--(BUSINESS WIRE)--AMP Solar Group Inc. (“AMP Solar”), a leading global renewable power provider headquartered in Ontario, announced today that Phil Henson will join the company as Chief Financial Officer. An integral part of AMP Solar’s global senior leadership team, Phil will oversee all project finance initiatives, in addition to leading corporate finance and accounting operations at the firm.
Phil joins AMP Solar from AES Distributed Energy Inc. where he was the Chief Financial Officer. Phil is an experienced energy finance executive having held senior roles at Main Street Power Company Inc. (the predecessor of AES Distributed Energy), Solar Power Partners, Inc. and XL Capital Assurance Inc.
Paul Ezekiel, AMP Solar’s Executive Chairman, said, “Phil’s experience and track record is unparalleled in the industry. He will play a key leadership role as we continue our growth in project and corporate finance, and is a welcome addition to our world-class team.”
AMP Solar CEO Dave Rogers added, “Phil’s leadership and expertise, as well as his successful track record in building investor relations, will be critical as we continue our global growth. We’re fortunate to have Phil driving AMP Solar’s financial strategy.”
Henson said of his new appointment: “I am very excited to join the AMP Solar team. The company has been successful in each of the markets it has entered, and I am confident that we will be equally successful as we launch our platform in the U.S.”
Today’s announcement comes a week after the company publicized the appointment of another solar industry veteran, Jorge Vargas, formerly of Morgan Stanley, as the Executive Vice President and Head of the Americas.
MAR. 14 2016 - SOLAR VETERAN JOINS AMP SOLAR GROUP TO DRIVE GROWTH IN AMERICAS
March 14th, 2016
NEW YORK--(BUSINESS WIRE)--AMP Solar Group Inc. (“AMP”), a leading global renewable power provider headquartered in Ontario, announced today that Jorge Vargas will join the company as Executive Vice President, Head of the Americas (US, Caribbean and Latin America). Based in AMP's New York City office, Jorge will lead the company’s growth strategy in the Americas, with an immediate focus on AMP’s US business.
Jorge joins AMP from Morgan Stanley & Co. where he was the Co-Head of the Solar Group within the North America Power & Gas Unit in its Commodities Division. A 15-year industry veteran, Jorge’s professional tenure also includes experience at Lennar Corporation and Bank of America prior to Morgan Stanley & Co.
Paul Ezekiel, AMP’s Executive Chairman, said, “There are only a handful of executives with his breadth of experience structuring and executing transactions across the spectrum of the solar industry. We are thrilled to have Jorge on the AMP team.”
AMP CEO Dave Rogers added, “Jorge brings unique capabilities which further AMP's solar portfolio growth strategy, and will expand our access to capital and new investment opportunities to create value for our shareholders and partners.”
Vargas said of his new appointment: “I am very excited to join AMP’s highly experienced global solar platform. I look forward to being a part of the AMP team and contributing to the profound growth opportunities ahead for the company.”
FEB.03 2016 - CANADA HAS ENERGY EXPORT OPPORTUNITIES BEYOND PIPELINES
February 3rd, 2016
Sarah Petrevan is a senior policy adviser at Clean Energy Canada, a program of Simon Fraser University’s Centre for Dialogue.
The big energy story in Canada continues to be pipelines. Still.
Why? There’s controversy, for starters, but it’s also the fact that energy exports – especially oil – make up a big chunk of Canada’s exports, and we’re an export-driven economy.
Fair enough. But it’s time we started focusing more attention on the opportunity to export energy technologies and services, not just raw energy. As United Nations Environment Program chief Achim Steiner said the other day on CBC’s Power & Politics, “Whether you build the next pipeline or not … the economy of Canada will not be centred around a fossil-fuel-based extractive economy.”
That’s in no small part why Ontario Premier Kathleen Wynne has been in India in recent days. There are always domestic politics tied to these trade missions, but there is both need and value for Canadian leaders – from government and clean-energy companies – to travel abroad, seeking out new business opportunities. If Canada is going to play in the increasingly competitive global clean-energy marketplace, we need to sell our industry and the climate solutions they offer.
Let’s unpack this.
Not two months ago, the world raised the bar on climate action by signing an agreement to replace fossil fuels and build a clean global economy. An unlikely leader at the forefront of that charge is India, with a commitment to install 175 gigawatts of renewable energy by 2022. India is a top-three player, according to Ernst & Young’s Renewable Energy Country Attractiveness Index, so it’s not surprising that clean-energy businesses are flocking there, including those based in Canada. Why? The size of the prize.
The reality is, for Canadian companies, prospects at home are looking lean, especially in the short term. While we’ve seen sizable renewable electricity targets from both Alberta and Saskatchewan, policy details have yet to be unveiled and even then it will take time for projects to get started. And, while Ontario has held the top spot in renewable electricity for the past few years, topping out at $12.7-billion in investment by the end of 2014, there are many unanswered questions as to what’s next for clean energy as the province considers its supply strategy.
For companies looking to grow, there is little choice but to look beyond our borders. Enter India – with the right mix of commitment, investment and policy – the next clean-energy frontier.
With a formal target of 100 GW of solar capacity (and 60 GW of wind) by 2022, India is a giant market for clean-energy companies. According to Bloomberg New Energy Finance data, the dollars are matching those commitments. In 2015, India saw $10.9-billion (U.S.) in clean-energy investment, a 22-per-cent increase over 2014, with nearly half ($5.2-billion) in solar. This is not to say that the clean-energy revolution in India is easy; finding land and the state of power transmission infrastructure have posed challenges for the country. But with policy approaches evolving to meet the country’s power needs, there’s no sign India is slowing down on its commitment any time soon.
In fact, many Canadian companies have already seized business opportunities in India. When Prime Minister Narendra Modi visited Canada last April, solar-power deals – one with AMP Solar Group and the other with Canadian Solar Inc., a big player on the Indian market – accounted for more than $1-billion (Canadian), 63 per cent of the value of the total agreements signed.
Another success story for Canadian solar in India is Sarus Solar, a joint venture comprising three Canadian firms that is planning a series of 500-megawatt solar parks, the first of which will be built in Maharashtra. According to Sarus Solar’s head of operations for India, Arun Agarwal, “The Canadian firm saw huge potential in the solar sector in India, especially after the government announced its target.”
Finally, let’s point to Canada’s SkyPower Global, which, last summer, made the lowest bid of 5.17 Indian rupees a kilowatt hour (10.6 cents) as part of the 2 GW solar tender in the Indian state of Telangana. Subsequent actions have secured even lower bids, yet Canadian companies are clearly in the game in India.
Exporting clean-energy solutions reaps benefits for Canadians and Canadian companies.
While pipeline controversies make headlines, an important Canadian success story is being written outside our borders. It’s a story worth telling here at home.
NOV.30 2015 - SYNERGIST ENERGY AND AMP SOLAR GROUP COLLABORATE IN WESTERN CANADA
Nov 30th, 2015
Synergist Energy and AMP Solar Group collaborate in Western Canada
Toronto / Calgary November 30, 2015 – AMP Solar Group Inc., a leading global renewable power provider, will integrate Synergist Energy, an Alberta-based developer of solar power projects, into their high-growth platform to lead project development in Western Canada. With a new provincial mandate in Alberta and the more recent federal one, the companies expect to see significant renewable energy opportunities developed in a number of Canada’s western provinces. AMP will bring its significant development and capital resources to support the early stage development work that Synergist Energy has started in Western Canada.
Over the next 5 weeks leading up to the end of 2015 Synergist and AMP will work jointly to transition all relevant Synergist development activities into the AMP platform. On January 4, 2016 Jared Donald, President of Synergist Energy, will join the AMP Solar team as its Vice President, Business Development with a targeted focus on further development of the Western Canadian market. The core areas of focus for this partnership are the renewable power project development activities currently underway at Synergist Energy.
“I am very excited for this partnership with AMP Solar and my ultimate transition to their platform” said Jared Donald, President of Synergist Energy. “AMP Solar has proven itself to be one of the most innovative and effective developers in the world and I look forward to expanding their platform to Western Canada”.
“As a Canadian company who has aggressively ventured to the other side of the world for new solar development opportunities of late, AMP Solar is thrilled to have formed a partnership that we expect will allow us to leverage our team and its knowledge to further advance renewables in Canada” said Dave Rogers, President and CEO of AMP Solar Group. “Synergist Energy brings the local knowledge and relationships we need to understand and make a significant difference in this new market and the addition of Jared Donald to our executive team bolsters our development platform to support our ongoing global growth”.
In addition to the asset development opportunities available in Western Canada, AMP Solar is also looking at the opportunity to deploy its next generation utility model in Western Canada. The company has recently launched the next generation utility model in Ontario and the UK focused on delivering all aspects of energy through the active management and energy balancing of micro grids for communities, real estate developers, First Nations and other commercial and residential customers. Further developing this offering to support customers across the core Canadian market is something AMP is keenly focused on pursuing.
OCT.28 2015 - AMP SOLAR GROUP WAS SELECTED TO BUILD A MONUMENTAL 600KWDC OF PV SOLAR ON THE NEW OAKVILLE HOSPITAL
Oct 28, 2015
AMP Solar Group was selected to build a monumental 600KWdc of PV Solar on the New Oakville Hospital.
The system was designed with best-in-class technology components and is mounted as a canopy on top of the New Oakville Hospital's parking garage. AMP also incorporated LED lighting as part of the project for the parking us below the canopy on the largest and most innovative hospital to be built in Ontario.
The New Oakville Hospital solar project is estimated to provide the Hospital Foundation with more than $5 million in revenue over the duration of 20 years. AMP is proud to be a partner in this innovative and stunning project.
Oct.1 2015 - CANADIAN BUSINESS AND PROFIT MAGAZINE RANKED AMP SOLAR NO. 4 ON THE 27TH ANNUAL PROFIT 500, DEFINITIVE RANKING OF CANADA'S FASTEST-GROWING COMPANIES OVER THE PAST FIVE YEAR PERIOD, AND NO. 1 FOR THE GREATER TORONTO AREA'S FASTEST GROWING COMPANIES FOR 2015
Oct 1st, 2015
Canadian Business and PROFIT magazine ranked AMP Solar No. 4 on the 27th annual PROFIT 500, definitive ranking of Canada’s Fastest-Growing Companies over the past five year period, and No. 1 for the Greater Toronto Area’s Fastest Growing Companies for 2015.
Published in the October issue of Canadian Business and at PROFITguide.com, the PROFIT 500 ranks Canadian businesses by their five-year growth. AMP Solar Group, Inc. made the 2015 PROFIT 500 list with a five-year revenue growth of 10,763%.
“The PROFIT 500 represent the highest tier of entrepreneurialism in Canada,” says James Cowan, Editor-in-Chief of PROFIT and Canadian Business. “They should be lauded for the positive economic contributions they’ve made to their communities – and the entire country. They are examples of what can be accomplished with innovation, discipline and determination.”
Since its incorporation in early 2009, AMP Solar Group Inc. has experienced staggering growth, becoming one of the most experienced and bankable solar project developers globally. Our portfolio includes one of the largest rooftop solar portfolios (66MW), with the Toronto District School Board. Our clients include highly established brands in Canada and worldwide including IKEA, Canadian Tire, Lowe’s, TD Bank, Royal Bank of Canada and Menkes Developments and our reach beyond North America includes the UK, India, Japan, and Thailand.
AMP Solar Group is dedicated to the creation of clean renewable energy by generating electricity from the most enduring natural resource - the sun.
We do this to make the world cleaner and safer for ourselves, and for future generations
JUL. 21 2015 - £1bn IN SOLAR CONTRACTS ANNOUNCED, AMP SOLAR UK
July 21st, 2015
Up to £1bn is set to be ploughed into funding the installation of solar panels on social homes, under two frameworks unveiled this week.
The Carbon Savings Alliance (CSA) has awarded contracts for £500m of fully-funded installations and £500m of installations paid for by landlords. AMP solar (UK) has been appointed to deliver the fully-funded installations under a four-year framework, which will see it fund and install solar panels on social homes, taking the income generated through government subsidies. Low Carbon Exchange has been appointed to provide installations where social landlords will put up the cash, and benefit from the income. Solar Photovoltaic (PV) panels benefit from Feed In-Tariff (FIT) rates, government subsidies paid for excess energy generated. Many landlords scrapped installation plans when FIT rates were cut in 2012, but there has been a recent resurgence in the market due to the falling cost of installation and kit. More than 35 landlords have already applied to use the Low Carbon Exchange self-funded route. AMP Solar (UK) are renewable energy specialists and join other players such as Australian bank Macquarie Lending and North Star Solar in offering fully-funded installations to social landlords. Low Carbon Exchange, a provider of renewables to social landlords and the public sector, will provide kit for social landlords to install. Steve Drew, managing director of the CSA and director of Alliance Property care, said: ‘If councils have cash and they want to invest they can go through one route, if they just want the benefit for tenants they can go through the other. ‘The value for all of us, at the end of the day, is that tenants get free energy.’ Under both frameworks, the energy generated is gifted to tenants, lowering their energy bills. He said he expects significant uptake under the frameworks, but not necessarily full take-up. Mr Drew said installation fees are currently £800, and installation £4,000 per system. He said 6,500-home Alliance Homes has 1,500 panels and generates a FIT return of more than £1m per year as a result. Andrew Eagles, director of consultancy Sustainable Homes, said: ‘PV projects are far more viable now due to the lower prices of kit and installation. Social landlords need to have a look at what is out there and what the best deal is for them.’ UPDATE: 21.07.2015 1.45pm The contract for fully funded work has been awarded to AMP Solar (UK), a joint venture between established-solar companies Toronto-based AMP Solar Group Inc, UK-based MAP Environmental Ltd. and Sustain Energy Solutions Ltd and is backed by Apollo Capital Management. Based on briefings provided to Inside Housing, it was initially reported as being awarded to MAP Environmental.
JUNE. 23 2015 - MONDAY AUGUST 10TH 2015 AMP SOLAR WILL BE HOSTING THE 3rd ANNUAL "PLAYING FORE CHANGE" GOLF TOURNAMENT
June 23rd, 2015
Monday August 10th, 2015 AMP Solar Group will be hosting the 3rd Annual “PLAYING FORE CHANGE” Golf Classic at the beautiful Rattlesnake Point Golf Course in Milton, Ontario to benefit the Canadian Safe School Network (CSSN) and promote greater anti-bullying awareness.
Youth violence in schools and communities remains a grave concern for many children and families across Canada. The number of youth related offences has more than doubled in the past decade. Many youth are afraid to go to school because of bullying. It’s important to remember bullying doesn’t end when the school day does; students are subjected to cyberbullying and text-harassment twenty-four hours a day. We enjoyed a remarkable turnout at our inaugural event last August, raising a total of (insert new total) and we hope to surpass that this year. Please share this invitation with your contacts and encourage them to support the fine efforts of the CSSN so they can work toward reducing violence in Canadian classrooms and communities. This initiative is in support of creating anti-bullying awareness and resources for youth across Canada who face bullying at school, home, or online.
Exciting sponsorship levels and other pertinent details are enclosed and Mona Travale is available to answer any questions you may have either via email firstname.lastname@example.org or via telephone (905) 271-7800 ext. 226.
To find out more about Canadian Safe School Network and how you can get involved visit: http://canadiansafeschools.com/ampgolf/
If you would like to register to be a part of this follow the links provided ....
MAY.28 2015 - TERRAFORM GLOBAL COMPS LIKELY INCLUDE ABENGOA YIELD, AMP SOLAR
May 28th, 2015
SunEdison’s [NYSE: SUNE] emerging markets yieldco TerraForm Global (EMY) is expected to look to Latin America and Asia-focused independent power producers (IPPs) as comparables for its initial public offering, two sector bankers and an analyst said.
Those would include include Abengoa Yield (NYSE: ABY), the only public yieldco with both North American and foreign assets, and IPPs and developers with an emerging markets focus like Gestamp Renewables, Fotowatio Renewable Ventures, Enel Green Power and AMP Solar Group, the bankers said.
On May 7, SunEdison filed its second yieldco S-1 for a public offering with a placeholder of USD 700m.
The S-1 did not specify who Terraform competes with, but said competitors in the eight countries it has power plants in include utility companies currently supplying energy to potential customers.
SunEdison’s partnership with Renova Energia, the largest renewable energy in Brazil, provides TerraForm Global with a robust portfolio of right of first offer (ROFO) projects for additional acquisitions for the yieldco, according to the filing. The initial portfolio consists of 987.8MW of utility-scale solar, wind, hydroelectric, biomass and conventional power plants in countries like Brazil, China, India and Peru.
The parent’s North American yieldco, TerraForm Power (Nasdaq: TERP), has an EV/EBITDA multiple of 25.1x, while TerraForm Global’s closest comp, Abengoa, has a 21.5x EV/EBITDA multiple, according to a Bank of America Merrill Lynch public trading report.
The bankers said because TerraForm Global is competing with utilities companies with highly regulated rates and tariffs, the yieldco’s dividend yield would have to sustain a 15% dividend growth for the first three years because of currency risk and volatility.
By comparison, SunEdison’s first yieldco, TerraForm Power, led the pack, with a 24% dividend curve, while Abengoa was at 12% and NRG Yield at 18%, according to the BofA report.
The bankers said they expect TerraForm Global’s offering to debut later this year. The yieldco received an additional USD 100m investment last week from shareholder EverStream Capital Management. SunEdison did not return calls seeking comment.
To date, the global yieldco has aggregated USD 275m in equity from Everstream, Blackstone Group and Altai Capital, according to the filing. Separately, underwriters JPMorgan, Barclays, Citigroup and Morgan Stanley have committed to providing a USD 450m term loan facility for theyieldco, which the proceeds of the IPO will be used to repay, the filing said.
Investor appetite in TerraForm Global should be robust, said the first banker, adding that its predecessor yieldco locked in USD 90m in first year cash available for distribution (CAFD) and USD 103m second year CAFD, a forward metric used to determine financial performance of yieldcos.
The first banker and the analyst said TerraForm Global will “easily” generate in excess of the USD 164.8m CAFD stated in the S-1 based on the returns generated by comp Abengoa. The Spanish yieldco generated USD 92m in first year CAFD and USD 150m in second year CAFD, while the analyst cited the stratification of solar, wind and conventional power assets for the ability to increase returns for investors.
By geography, Abengoa’s ability to generate higher CAFD was prefaced by its assets located in the US and Latin America, a variable typically seen as generating higher returns since its assets are not wholly concentrated in solar or wind. By contrast, Pattern Energy (Nasdaq: PEGI), whose assets are all wind, generated only USD 55m in its first year and USD 60m in its second year since going public in October 2013.
Other IPPs lining up
While SunEdison’s second yieldco is the first to focus solely on emerging markets, Fotowatio and AMP Solar are likely to follow suit, the first banker said.
In April, Denham Capital sold Fotowatio to Saudi Arabian conglomerate Abdul Latif Jameel’s energy division for undisclosed terms.
The second banker said Abdul Latif Jameel has been “aggressively going after emerging market” renewable assets. According to the company website, Fotowatio operates a 530MW portfolio of solar assets in the US, Spain, Italy, Australia, Egypt, Brazil and Uruguay, with its 3.4 GW project backlog for drop-down opportunities being on par with TerraForm Global in terms of asset size and geography.
Based on a 500MW initial project portfolio and 3.5GW project pipeline for further drop-downs, AMP Solar is yet another attractive yieldco candidate, the same banker said. AMP Solar has been acquiring assets in the UK, Canada, Jordan and Thailand.
by Michael Schoeck in New York
APR.16 2015 - AMP SOLAR GROUP SIGNS MOU WITH SUN GROUP TO DEVELOP 500MW IN INDIA
April 16th, 2015
Indian PM Modi visited Canada on April 16th, the first time an Indian PM had visited Canada in 42 years. As part of the visit, AMP Solar Group signed a MoU with SUN Group to jointly develop, own and operate over 500MW of solar assets in India over the next three years. This will result in the investment of over $1 billion into new energy infrastructure in India.
MAR.31 2015 - AMP SOLAR UK ENERGIZES THREE PV PLANTS TOTALING 40MW IN THE UK
March 31, 2015
AMP Solar UK announced today it has successfully connected to the grid three utility-scale, ground-mounted PV plants with a combined capacity of 40MW in the UK under the country’s Renewable Obligation scheme. The three plants, located in Spalding, Cheshire and Plymouth, were constructed by Sustain Energy Solutions Ltd.
AMP Solar UK Ltd is a joint venture created by three established solar companies: Toronto-based AMP Solar Group Inc, UK-based MAP Environmental Ltd. and Sustain Energy Solutions Ltd, with financing support provided by Apollo Investment Corporation (NASDAQ: AINV).
March 11th, 2015
AMP’s Jordan Solar One (“JSO”) project was a part of the portfolio that was awarded Infrastructure Journal and Project Finance Magazine’s IJ Global Middle East Renewable Deal of the year as well as the Middle East Overall Award of the Year to IFC for putting together a $207.5 million debt package to fund the construction of seven solar photovoltaic plants in Jordan – the largest private sector-led solar initiative in the Middle East and North Africa. JSO is one of seven plants that will generate 212 GWhr each year of non-polluting, sustainable power. They will also cut carbon dioxide emissions by 123,000 tons annually.
This project will benefit from a 20-year PPA with state utility NEPCO.
Feburary 18th, 2015
AMP Solar Group has signed a landmark agreement with 70 Agricultural Cooperatives in Thailand to develop ground mount solar projects on cooperative controlled land. This arrangement comes on the heels of an innovative co-marketing Memorandum of Understanding that AMP Solar Group signed with Thailand’s National Farmers Council (NFC). The agreements with the various Agricultural Cooperatives gives AMP Solar site access to over 1,400 acres of land in several Provinces in Thailand which will support over 200MW of solar capacity under the Thai Government and Agricultural Cooperative Solar Development Program.
AMP Solar UK Ltd. ("AMP Solar UK"), a UK affiliate of AMP, has received a commitment of $250 million in revolving equity financing from Apollo Investment Corporation (NASDAQ: AINV) ("Apollo"). The proceeds of the financing will be used for the development, acquisition, construction, and long term ownership of solar projects in the U.K.
AMP Solar UK Limited. was established to acquire, build and manage a portfolio of over 300MW of ground-mount, commercial and residential solar energy installations during 2015-2016. Apollo is a $180B investment manager.
Apollo Investment Corporation (NASDAQ: AINV) has committed to invest a total of USD$15 million of equity in AMP to support AMP's rapidly growing global development portfolio of projects in investment grade markets, including projects in Canada, the UK, Japan, India and Thailand. Additionally, AMP is developing a strategy to deploy capital in other financeable emerging growth markets that offer superior risk adjusted returns.
Apollo is a $180B investment manager.
OCT.09 2014 - AMP ANNOUNCES FINANCIAL CLOSE OF THE JORDAN SOLAR ONE PROJECT
October 9th, 2014
AMP Solar Group Inc. announced the financial close of its Jordan Solar One (JSO) project, a 20MW solar PV plant located in the Mafraq region of Jordan. This project will benefit from a 20-year PPA with state utility NEPCO.
JSO, majority sponsored by AMP and other minority shareholders will benefit from $17.5 million in direct IFC lending and $43.5 million of syndicated loans. It is part of the Government of Jordan’s Renewable Energy Program, which aims to increase renewable energy contribution to 10% of the country’s generation mix by 2020.
JUL.17 2014 - FENGATE ANNOUNCES COMMERCIAL OPERATIONS OF THE SUNDERLAND SOLAR ENERGY PROJECT
July 17th, 2014
AMP Solar Group Inc. along with Fengate Capital Management Ltd. announced today the commercial operation of the 14MW DC photovoltaic Sunderland Solar Energy Project. Located in the Durham region, it benefits from a 20-year electricity purchase agreement under the Ontario Power Authority’s (“OPA”) Feed-in Tariff program. It will generate approximately 16,500MWh of clean solar power in the first year of operation, enough to support the annual needs of 1,600 Ontario homes.
JUL.17 2013 - AMP ANNOUNCES 311 FIT CONTRACTS UNDER FIT 2.0 IN ONTARIO
July 17th, 2013
AMP Solar Group Inc. announced that it received 311 FIT contract offers for the TDSB portfolio, for a total of 30MW. Each contract is a 20-year electricity purchase agreement under the Ontario Power Authority’s (“OPA”) Feed-in Tariff program. This portfolio will generate energy equivalent to the amount used annually by approximately 4,250 households in Toronto. The revenue generated from the solar panel installation will be used to fund 4.3 Million sq ft of school rooftop repairs and replacements.
In May 2011, a land mark agreement was executed that would see solar panels installed on hundreds of school rooftops while offsetting the costs of major roof maintenance. At 66MW, this project was hailed as part of the same league as the world’s leading solar projects It was an historic educational and innovation landmark for public institutions across North America.
JUL.03 2013 - AMP ANNOUNCES 87 FIT CONTRACTS OFFER FOR THE WYS PORTFOLIO
July 3rd, 2013
AMP Solar Group Inc. announced that it received 87 FIT contract offers for the Waterloo Catholic District School Board, York Catholic District School Board and Simcoe County District School Board portfolio totaling over 10MW. AMP will develop the projects on a 20-year FIT contract with the Ontario Power Authority. This portfolio will generate energy equivalent to the amount used annually by approximately 1,000 households in the region. The school boards will receive a licensing fee based on the area of rooftop space used. Coming on the heels of the TDSB deal, this agreement will benefit the respective school boards not only as a revenue generator, but also a teaching tool for the students.