Fengate Capital Management Limited, an asset management firm, and AMP Solar Group Inc., have announced the commercial operation of the 10 MW AC photovoltaic Sunderland Solar Energy Project.
Fengate directed an equity investment in the project on behalf of its infrastructure funds. The Sunderland Solar Energy Project is located in Durham, Ontario.
Lou Serafini Jr., President and CEO of Fengate, stated:
Fengate is delighted to partner with AMP Solar Group, our development partner, and support our clients’ investments objectives in independent power. The Sunderland Project has provided our firm with another opportunity to make an impact on providing clean power to Ontario.
The Sunderland Solar Farm benefits from a 20-year electricity purchase agreement under the Ontario Power Authority’s (OPA) Feed-in Tariff program. It will generate approximately 16,500 MWh of clean solar power in the first year of operation, enough to support the annual needs of 1,600 Ontario homes.
George Theodoropoulos, Managing Director, Infrastructure at Fengate, stated:
Achieving commercial operations of the Sunderland solar farm is an important milestone for our firm. This is the first electricity generating facilities that Fengate has developed to come online.
Under the OPA’s Long-Term Energy Plan, about half of Ontario’s installed generating capacity will come from renewable sources by 2025. Solar photovoltaic electricity is among the safest, cleanest sources of energy available with a nearly emission-free electricity generation method.