Energy Conversion to co-develop solar project


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U.S. solar power company Energy Conversion Devices said it will partner with Enfinity Corp to develop a 10 megawatt portfolio of rooftop solar installations in Ontario, Canada, under the province's new feed-in-tariff program.

Ontario launched North America's most comprehensive and generous set of feed-in tariffs in October, which guarantee sellers of electricity produced from the sun, wind, water and biomass fixed, above-market prices for 20 years.

Energy Conversion said Enfinity will lead the rooftop acquisition and will arrange construction debt and take-out equity financing for the projects.

The projects portfolio will be sold to the permanent equity owners on completion, the companies said in a joint statement.

Several firms have recently said they are considering production in the country, including South Korea's Samsung Group.

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