Toronto, Ontario, February 2, 2016 – CarbonFree Technology Inc. announced today its development participation in a 50 MW solar power project located in the Township of Southgate, Ontario.
The Southgate Solar Project will rank among the top five photovoltaic projects in Canada. The project will use approximately 190,000 polycrystalline silicon modules manufactured by Canadian Solar Solutions Inc. The power generated will be sold to the Ontario Power Authority under a 50 MW, 20-year Power Purchase Agreement.
Samsung Renewable Energy Inc. originated the project as part of its commitment to investing in solar energy in Ontario. Samsung and Connor Clark & Lunn Infrastructure have partnered to provide equity funding for the construction of the project. The equity partners have secured C$190 million of debt financing from a syndicate of banks. The debt will be used both for the construction and for the long-term financing of the project.
In addition to its role as a development partner, CarbonFree Technology will provide construction management services while the project is being built and make an equity co-investment in the project.
Canadian Solar will supply all of the solar modules for the project, and will also manufacture the medium voltage inverter houses. The project will use 60 utility-scale inverters manufactured by SMA Canada Inc. Fixed-tilt racking for the project will be supplied by Cosma International.
