Vancouver, January 14, 2011 – P2 Solar aims to commission 10 MW or more of solar photovoltaic projects in Ontario. Over the past few months, management has undertaken a comprehensive study of Ontario’s feed-in-tariff program to prepare for an entry into this market.
Ontario‘s tariff levels are very appealing and market entry requires applicants to navigate certain procedural requirements but there are no minimum financial or other criteria that the applicant is required to meet, except normal stage-by-stage financial closures.
The project approval is subject to site-specific conditions such as grid congestion, difficulty of grid connectivity and other factors. Applicants need to undertake careful planning for site selection.
Raj-Mohinder Gurm CEO of P2 Solar, Inc. said, “Entry into the Ontario solar market will be a very nice compliment to our existing target market India. 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.”
The company’s next step is to engage a real estate consulting firm that is experienced in site selection, development and tie-up under Ontario’s FIT program.
These consultants will assist P2 in narrowing down a short list of potential sites to two or three based on additional study of the above factors as well as zoning, soil conditions and other factors. Entry into the Ontario market will require significant attention and dedicated focus from management.
“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 Raj-Mohinder Gurm.