Angus Power Signs 10 MW of Solar Project Financing
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TORONTO, Feb. 4, 2011 (GLOBE NEWSWIRE) -- Angus Power (an H.H. Angus & Associates company) is announcing that it has acquired full project financing for a minimum of 10 MW of commercial-scale rooftop installations from Solar Power Partners of California and JCM Capital of Toronto, Ontario.
The Fund focuses on the installation of solar projects on large commercial and industrial buildings across Ontario, utilizing Ontario's Feed-in-Tariff program via solar Power Purchase Agreements (PPA) with the Ontario Power Authority.
John Hawkes, President of Angus Power, said "We are pleased to have been selected by a team that combines a strong knowledge of the solar business in North America with a competent and creative local investment group. In a market that is populated with a lot of new players, the strength of an engineering company with a 90 year history of excellence behind it, some of the best project management in the country and cost effective financing offers clients a very competent team."
Managing Director of JCM Capital, Christian Wray, stated that this agreement will supply a high-quality pipeline of projects to the Fund. "Angus is an ideal partner, bringing both deep relationships with commercial building owners and a first-class track record in engineering."
"This agreement demonstrates the need for this offering and the backlog of demand in the market. Our process and benefit to the solar development community in Ontario is very straightforward and being well received," said Roy Schwartz, Vice President of Project Development for Canada, Solar Power Partners.
In addition to the rooftop solar work Angus has already secured preferred positions on ground mount solar and biogas projects. Visit www.hhangus.com/anguspower for more information.
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About Angus Power
Angus Power is a recently formed company, majority-owned by H.H. Angus to provide full design, build and operate services for distributed power projects. Initial focus is on the solar and biogas markets.
About H.H. Angus
H.H. Angus is one of Canada's oldest and largest private engineering firms. Respected throughout the industry, H.H. Angus has built an unparalleled reputation for delivering superior engineering services and innovative building solutions to industry leaders, in every major sector, in Canada and around the world.
Media Contact: John Hawkes, President, Angus Power
tel: 416.443.8363 hawkesj@anguspower.com
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