Canadian Electronics Design Product News PIQ

Atlantic Wind & Solar receives first round of government contracts; prepares for construction

June 13, 2011 Written by 
Atlantic Wind & Solar Inc. is pleased to report that the Ontario Power Authority (OPA) has formally approved three of its initial Capacity Allocation Exempt (CAE) Power Purchase Agreement (PPA) applications, permitting the advancement of its first Ontario-based, rooftop solar energy parks.
Representing approximately $13 million in secured gross revenues for the Company and its financial partners, these first three, fully processed, wholly owned, Feed In Tariff (FIT) contracts are the first of approximately 150 large, utility scale, rooftop solar energy projects the Company has been working on over the past two years.

Atlantic Wind & Solar CEO, Mr. Gilles Trahan, comments, "We have waited a long time by the side of our patient shareholders and channel partners for these initial contracts to be processed. They represent a long chain of coming progress for AWSL and its stakeholders... progress that will help elevate the Company to new levels of future success."

The Company is in the process of completing final engineering and procurement for each of the projects and looks forward to announcing construction commencement dates in the near future.

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