Finance
JCM Capital providing $10 million for solar in Ontario
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- Category: Finance
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25 Apr 2012
- Published on Wednesday, 25 April 2012 23:55
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Solar power financing company JCM Capital announced a $10 million solar development capital fund for investments in early-stage photovoltaic projects installed in large commercial and industrial buildings across Ontario.
The fund will be available to application-ready projects to be submitted to the Ontario Power Authority for the province's feed-in tariff program. Ontario offers a feed-in tariff schemes for renewable energy projects with generation capacities of 10 kilowatts or less, among other technology tiers.
JCM Capital finances and develops solar energy projects in Ontario, providing early-stage development capital or equity financing as well as strategic and project management support.
Currently, it has deployed over $5 million in development capital for an initial 20 megawatts of commercial rooftop solar.
Ontario has set a goal to phase out coal-fired electricity generation by 2014. Aside from solar PV, their feed-in tariff program covers biogas, renewable biomass, landfill gas, waterpower, onshore wind and offshore wind.
