Solar Flow-Through gets USD 9.6m for 12.18 MW of PV systems in Canada

Oct 11, 2013 - Canada-based Solar Flow-Through 2012-I LP said Thursday it had pocketed CAD 10 million (USD 9.6m/EUR 7m) in a private share offering, aimed at financing the development of 12.18 MW of rooftop solar projects in Canada.

The funding round commenced in August after in July the photovoltaic (PV) projects developer and its partners secured 52 contracts from the Ontario Power Authority (OPA) for the construction of 12.18 MW of commercial rooftop solar plants. The facilities will be installed under Ontario's small feed-in-tariff (FIT) scheme for solar power, which provides fixed purchase rates for a period of 20 years. The systems are to be developed in the following 18 months.

Solar Flow-Through will apply for more commercial rooftop and ground-mounted solar projects under the OPA’s small FiT programme by the end of the year. It is currently holding negotiations with potential partners, it said.

Limited partnership entity Solar Flow-Through was set up by Berkley Renewables Inc (CVE:BKS), which owns 95% of the company’s general partner Solar Flow-Through General Partner Ltd and its manager Solar Flow-Through Management Ltd.

(CAD 1.0 = USD 0.962/EUR 0.711)

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