Energy Conversion Devices Inc. and MP2 Capital LLC will partner with Rumble Energy, an Ontario-based renewable energy developer, to install a series of rooftop solar projects under the province's new feed-in-tariff program. The companies expect to install 10 MW of solar rooftop projects within a year.
By partnering with Ontario-based suppliers and contractors, the solar rooftop projects will comply with the local content requirements set by the Ontario Power Authority. ECD, through its subsidiary United Solar Ovonic, will provide UNI-SOLAR brand solar photovoltaic (PV) laminates for the projects. MP2 Capital will lead the financing and development efforts for the solar rooftop projects.
This is a good example of our demand-creation strategy where we partner in the development of solar projects that have attractive rates of return for project investors, explains Mark Morelli of ECD. The Ontario Power Authority has demonstrated an impressive commitment to the promotion of renewable energy development and ECD intends to be a major player in the province in the years to come.
The feed-in-tariff structure in Ontario promotes this distributed generation rooftop model, and UNI-SOLAR laminates are ideal for solar rooftop installations," adds Mark Lerdal of MP2 Capital.
ECD manufactures, sells and installs thin-film solar laminates for building-integrated and rooftop PV. MP2 Capital develops, finances and invests in renewable energy projects around the world from its headquarters in San Francisco.