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P2Solar, a British Columbia-based company, announced today that it plans to commission 10 megawatts’ worth of solar projects in Ontario. The firm said that it has, over the last few months, undertaken an extensive study of Ontario’s feed-in-tariff program, and has decided that building in the region makes financial sense.
The time was right. Ontario does not require a minimum financial investment in order to build there, something P2Solar found very appealing, according to CEO Raj-Mohinder Gurm.
“Entry into the Ontario solar market will be a very nice compliment to our existing target market: India,” he said. “We have identified a sub-set of potential sites that we believe are good candidates for receiving clearance from Hydro One within a reasonable time-frame.” Hydro One is Ontario’s utility company.
P2Solar has primarily been focused on India. But legislative hurdles in India have made it difficult to build there. According to a company newsletter sent out to shareholders, P2Solar recently had to abandon the application process for a proposed 25-MW facility in India.
The company also builds in the Middle East and Canada, but the entry into Ontario’s market is a first, and unlike India, Ontario has made the application process seemingly easy and without “onerous guidelines,” according to the shareholder newsletter.
But before P2Solar builds anything, the company is working with a real estate firm in Ontario, one that is experienced in site selection and working within the perimeters of the feed-in-tariff program.
Once the site has been selected (the company is currently looking at two potential locations), P2Solar plans to staff the new projects.
"We are endeavoring to bring additional personnel on board, in the very near future, to assist the existing team with additional expertise to take advantage of this appealing target market," said Gurm.
Currently, Ontario has one of North America's most attractive solar incentive programs.
Image courtesy of Hydro One.