VAUGHAN, Ont.—Ontario energy company, PowerStream, has acquired a portfolio of roof-top solar photovoltaic generation facilities totalling 2.575 megawatts from JCM Capital.
The portfolio consists of 14 roof-top solar PV generation projects in Ontario, located on StorageMart Self-Storage facilities throughout Toronto, Markham, Barrie and London. The combined facilities are Feed-in-Tariff projects, and are expected to generate 3,500 megawatt hours annually, which is enough energy to power 365 homes.
“PowerStream is delighted to have worked with JCM on several solar PV generation projects to our mutual benefit,” Maurizio Bevilacqua, PowerStream board chair, said. “This acquisition aligns with our strategic plan and our sustainability strategies as we continue our efforts to expand our solar generation portfolio throughout 2015 and beyond.”
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 established its solar generation division in 2010 to develop, construct, own and operate renewable generation facilities in Ontario. Since then, the company’s renewable generation business has developed 26 solar generation projects totaling 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 acquiring projects from developers as part of its ongoing commitment to champion renewable generation in Ontario.