SunEdison to Develop Solar PV Program for Remington in Ontario
Monday, April 26th 2010 9:49:47am
TORONTO, ONTARIO (April 26, 2010) - SunEdison, a division of MEMC Electronic Materials, Inc. (NYSE: WFR), announced today that it will be developing and constructing up to fourteen (14) roof-top solar photovoltaic (PV) projects with capacity totaling up to 3 Megawatts (MW) for The Remington Group, one of the leading real estate developers in Ontario.
Under the agreement, SunEdison will finance, build, own, operate, monitor and maintain photovoltaic solar energy systems hosted at Remington facilities, and the Ontario Power Authority (OPA) will purchase the energy produced under the terms of Ontario’s Feed-in Tariff Program (FIT)*.
The fourteen roof-top PV systems will all be located in the Greater Toronto Area, and will be launched using a phased rollout plan starting in the Summer of 2010. Over 20 years, the systems will generate sufficient energy to avoid the emission of over 42,000 tonnes of CO2 into the atmosphere--the equivalent of removing over 9,000 cars from the road for one year.
The Remington Group’s commitment to environmentally-friendly, sustainable growth practices is well established in Ontario. “Green energy has been and will be a key focus for Remington,” commented Christopher Bratty, President of the Remington Group.
“We chose SunEdison based on their track record of successful solar PV system installations,” continued Bratty. “They have tailored a solar program for Remington that will drive revenue from rooftop space that would otherwise be unused. It’s a win-win for everyone.”
“We are excited to have been selected by Remington,” commented Jason Gray, Canada Country Manager for SunEdison. “I’m pleased to see the momentum building in Ontario for clean, financially-rewarding solar energy. And, with respected companies like the Remington Group leading the way, others are sure to follow.”
To schedule an interview, contact:
Investor Relations Contact: (For SunEdison)
Mr. Don Huff
Solar Relations Contact: (For the Remington Group)
Mr. Tom Davies
+1 905 761-8200 x 280
*About the Feed-in Tariff Program (FIT)
Ontario’s Feed-In Tariff (FIT) program for renewable energy generation is a cornerstone of the province’s Green Energy Act. Under the program, participants are paid a fixed-price for the electricity they generate over a 20 year contract period. For more information, visit http://fit.powerauthority.on.ca.
SunEdison is North America’s largest solar energy services provider. The company finances, installs and operates distributed power plants using proven photovoltaic technologies, delivering fully managed solar energy services for its commercial, government and utility customers. For more information about SunEdison, please visit www.sunedison.ca.
MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC has been a pioneer in the design and development of silicon wafer technologies for 50 years. With R&D and manufacturing facilities in the U.S., Europe, and Asia, MEMC enables the next generation of high-performance semiconductor devices and solar cells. Through its SunEdison division, MEMC is also a developer of solar power projects and North America's largest solar energy services provider. MEMC's common stock is listed on the New York Stock Exchange under the symbol "WFR" and is included in the S&P 500 Index. For more information about MEMC, please visit www.memc.com.
About The Remington Group
The Remington Group is a privately held company with substantial real estate holdings and over 50 years of industry experience. The Remington Group develops, manages, and builds an extensive cross-section of residential and income properties across Ontario. The Remington Group has grown to become a preeminent Ontario real estate developer, widely recognized throughout the industry for uncompromising quality, business development acumen, and environmentally friendly, sustainable growth practices. For more information, visit Newsvine Deli.cio.us Facebook Digg