TORONTO, Ontario--(BUSINESS WIRE)--JCM Capital announced today that they have signed an agreement with Hay Solar Holdings ULC to provide full development, construction, and long-term equity financing for a 30 MW portfolio of modular 100kW farm building solar installations located throughout the Province of Ontario.
JCM focuses on financing and developing solar projects on large commercial and industrial buildings and large-scale solar farms across Ontario, utilizing the province's Feed-in-Tariff program via solar Power Purchase Agreements (PPA’s) with the Ontario Power Authority. JCM has secured FIT contracts for 65 commercial rooftop sites and has already started the construction of its first site in the fourth quarter of 2011. This agreement with Hay Solar brings JCM’s total portfolio volume to approximately 155 MW.
CEO of JCM, Christian Wray, stated that this agreement would allow a novel solar niche market to flourish. “This agreement allows JCM to work with Hay Solar to enhance the productivity and efficiency of the Ontario agriculture sector by providing over 300 farmers across our Province with access to high quality farm buildings in addition to an integrated solar system feeding clean energy to the grid. It is a highly modular system which can be replicated and scaled up easily.”
“We are very excited about working with JCM to bring the Hay Solar concept to commercial scale," said Paul Evans, President of Hay Solar Holdings ULC. “The Hay Solar Partnership Program will provide significant economic benefits to numerous sectors of the Ontario economy supplying materials and services to our planned aggressive farm building construction and solar installation program. We look forward to working with JCM, the Ontario Power Authority and our Hay Solar customers to bring the Hay Solar concept to commercial reality.”
About JCM Capital (JCM)
JCM is a financial advisory company that focuses exclusively on financing solar energy projects in Ontario, Canada. JCM provides development capital and equity for ‘construction-ready’ and operational solar projects. JCM works with developers to assist them with their financing strategy and needs. Current portfolios include rooftop and ground- mounted projects spanning from Southwestern to Eastern Ontario.
About Hay Solar (Hay)
Hay Solar Holdings ULC is engaged in the development of solar rooftop projects installed on agricultural buildings throughout the Province of Ontario. The company expects to design, install, finance, operate and maintain over 300 solar PV rooftop systems within the next 24 months. The company is staffed by a team of energy development and finance specialists with experience in both the regulated and non-regulated energy sectors.