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Atlantic Commences Construction on 101 PV Portfolio in Ontario

Atlantic Wind and Solar Inc. is pleased to announce the commencement of construction on portfolio 101 representing 12 utility scale rooftop solar PV assets in Ontario, Canada.

The company expects to complete construction on this portfolio of projects in 2013.

(photos' by Atlantic Wind & Solar of SPE 101 portfolio construction in Ontario)

The 101 PV portfolio

The utility scale projects, comprising 12 commercial buildings in Mississauga and Brampton in Ontario, represent 1.582 MW AC and approximately 1.9 MW DC of peak power production. Capital cost on the projects are approximately CAD $9.5 million.

The projects are expected to generate 39.1 megawatt hours of clean electricity over the next 20 years. The energy produced will be sold to the Ontario Power Authority under the province’s Feed-In-Tariff at a rates of $.635/kWh for two of the projects (250 kW) and $0.713/kWh for the remaining ten.

Atlantic’s additional pipeline in Ontario

Atlantic continues to process Connection Impact Assessments ("CIA's") and requesting Notice To Proceed (NTP) confirmations from the Ontario Power Authority for the remaining projects in Ontario.

The Company continues to secure new projects in Ontario and taking steps to make further applications into the OPA FIT program.

Management looks forward to announcing future developments.

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