Recurrent Energy Reaches Commercial Operation With Six Solar Power Projects Totaling 52 MWac in Ontario, Canada SAN FRANCISCO, CALIFORNIA and TORONTO, ONTARIO -- (Marketwired) -- 06/04/13 -- Editors Note: There is a photo associated with this press release. Recurrent Energy, a leading North American solar project developer, today announced the commercial operation of six photovoltaic (PV) projects, providing a total of 70 megawatts peak (MWp)/ 52 megawatts AC (MWac) of clean solar electricity for two communities in Ontario, Canada. These projects are the first six of nine to reach commercial operation date (COD) in a 100 MWp/74 MWac portfolio acquired by Mitsubishi Corporation and Osaka Gas at commercial operation of each project as agreed in June 2012. The electricity generated from this portfolio will be delivered to the Ontario Power Authority (OPA) through 20-year feed-in tariff agreements. "I'm happy to congratulate Recurrent Energy on achieving this significant milestone. It's clear that Ontario's clean energy policies are creating thousands of good jobs and cleaning up our air," said Minister of Energy Bob Chiarelli. "We're building on that strength by making important changes - like setting annual renewable energy procurement targets for the first time - to bring greater predictability and sustainability to Ontario's clean energy sector." "The completion of this portfolio is a milestone for utility-scale solar in Ontario and Recurrent Energy," said Arno Harris, CEO of Recurrent Energy. "Ontario's commitment to making clean energy a mainstream source for these communities is coming to fruition." These six projects, located near Smiths Falls and Waubaushene, Ontario, are all operational. The remaining three projects in the portfolio are expected to reach COD by early 2014. The entire 100 MWp/74 MWac portfolio is expected to generate more than 124 million kWh during the first year of operation, enough to power approximately 12,300 homes in Ontario. The development and operation of these projects has provided the communities with significant local investment and both short-term and long-term job creation. Between 2009 and 2013, Recurrent Energy created approximately 650 jobs during the construction phase alone. Including this portfolio, Recurrent Energy currently has 20 projects totaling 220 MWp/159 MWac in development in Ontario. All 20 projects are expected to be operating by early 2014. About Recurrent Energy Recurrent Energy is a leading solar project developer marketing clean power to utilities and large energy users. The company is meeting rising energy demand by building a portfolio of clean power plants located where they are needed most. Additional details are available at www.recurrentenergy.com. To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20130603-Recurrent800.jpg. Image Available: http://www.marketwire.com/library/20130603-Recurrent800.jpg Contacts: Media Contact: Recurrent Energy Cate Powers Director of Communications 415-501-9533 Cate.Powers@recurrentenergy.com www.recurrentenergy.com
Recurrent Energy Reaches Commercial Operation With Six Solar Power Projects Totaling 52 MWac in Ontario, Canada
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