PowerStream, the energy company owned by Barrie, Markham and Vaughan, has acquired a portfolio of solar projects totalling 2.575 megawatts (MW) from JCM Capital.
The portfolio consists of 14 roof-top solar PV generation projects in Ontario, located on StorageMart Self-Storage facilities in Toronto, Markham, Barrie and London. The combined facilities are Feed-in-Tariff (FIT) 1 projects, expected to generate 3,500 megawatt hours (MWh) annually, which is enough energy to power 365 homes.
PowerStream has partnered with JCM Capital since 2012 to manage the design, construction and commissioning of the projects. Both companies have been highly committed to the successful transfer of ownership and demonstrated innovative thinking, flexibility as well as win-win attitudes throughout the acquisition process.
PowerStream, which provides power to more than 375,000 residential and business customers residing in Central Ontario, established its solar generation division in 2010 to develop, construct, own and operate renewable generation facilities in Ontario.
Since entering the renewable generation business, PowerStream has developed 26 solar generation projects totalling 2.6 MW and has acquired an additional 60 projects of 15.2 MW from five other solar developers.
In addition to the development of solar generation projects, PowerStream intends to continue to acquire projects from developers as part of its ongoing commitment to champion renewable generation in Ontario.
Article and photo courtesy of PowerStream.