Toronto, ON—January 11, 2010—EDF Renewables – an EDF Energies Nouvelles Company (PARIS: EEN) today confirmed that it has reached commercial operation and closed financing for the Arnprior Solar Project – one of North America’s largest solar photovoltaic (PV) projects.
The 23.4 MWdc solar PV site, located on the western side of the City of Ottawa, Ontario, consists of 312,000 panels and is expected to generate clean solar energy to meet the peak demands of about 7,000 Ontario homes. In addition to achieving commercial operation, EDF Renewables has also executed term financing agreements with Dexia and Union Bank, N.A.
EDF Renewables developed the Project on two adjacent properties as part of the province’s Renewable Energy Standard Offer Program. Site activities employed more than 150 people in the community once design, engineering and construction commenced in May, 2009.
Tristan Grimbert, President and CEO of EDF Renewables and all EDF EN affiliates in North America said, “Today marks a significant milestone for EDF Renewables — we are proud to bring the economic and environmental benefits of solar energy to Eastern Ontario and fulfill our promise to pioneer solar project development in Canada. This achievement demonstrates our commitment to succeed with local partners. It’s a success we share with many individuals and companies in Ontario who have dedicated their time and talents to serving the Ontario solar market. Arnprior proves the unique abilities of EDF Renewables to commercialize a flagship solar PV project in a matter of a few months. Our relationship lenders once again have demonstrated their support of our efforts and renewable energy. We look forward to applying our resources, experience and partnership capabilities to the FIT ground mount and rooftop development in 2010 and beyond.”
“It has been our pleasure to support EDF EN over the years, and particularly with this project,” said Lance Markowitz, Senior Vice President at Union Bank and Manager of Leasing and Asset Finance. “We are particularly excited to have played a key role in the financing of the Arnprior Solar Project as it extends EDF EN’s leadership in the renewable energy industry to the Canadian solar market.”
Alban de La Selle, Managing Director and Head of Dexia Credit Local Canada Branch added, “Dexia is very pleased to take this opportunity to further evidence its commitment to finance the solar energy sector, where the bank has long been a pioneer in Europe. The Arnprior Solar Project will certainly be a landmark in the growing solar industry in Ontario, and we hope it will blaze the trail for many others under an appropriately tailored FIT program, and hopefully for other Canadian provinces.”
About EDF Renewables
EDF Renewables (http://www.enxco.com) – an EDF Energies Nouvelles Company (http://www.edf-energies-nouvelles.com), is a market leader in renewable energy development, with an integrated approach that covers every aspect of project origination and implementation through to electricity generation, operations and maintenance. EDF Renewables is actively engaged in building partnerships to develop ground-mount and rooftop solar PV opportunities under Ontario’s FIT program. The company offers financial strength, technical innovation and an unmatched commitment to customer service. EDF Renewables draws on the market leadership of enXco, EDF EN’s American affiliate. With more than 3,000 MW of renewable energy projects in service or under construction, EDF EN is at the forefront of renewable energy development.