Zurich, New York, NY 15-03-11. ThomasLloyd Capital LLC (“ThomasLloyd”) is pleased to announce that it acted as the exclusive financial advisor to Q-Cells International USA Corp (“Q-Cells”). In this capacity it facilitated the introduction of Q-Cells to Starwood Energy Global LLC (“Starwood Energy”) that led to successful financial close on a total of 50 megawatt (MW) AC solar photovoltaic projects in the City of Sault Ste. Marie, Canada.
This solar plant will consist of five 10 MW AC solar photovoltaic power generation projects, is contracted under the Renewable Energy Standard Offer Program (“RESOP”) developed and overseen by the Ontario Power Authority (“OPA”) and will connect to local utility PUC Distribution, Inc. The first phase with 20 MW reached financial close in December 2009 followed by a second phase with 30 MW respectively in September 2010. When completed, the project will be among the largest of its kind in North America.
“Solar projects of this size and scope are the model for alternative energy for the future and the expertise of all the professionals involved adds to the excitement,” said ThomasLloyd Director Philipp Rusch, “These important developments will pave the way for growth in the supply of solar energy in Ontario.“