SPP and JCM Sign Agreement with Rumble Energy for Solar Projects

TORONTO--(BUSINESS WIRE)--Solar Power Partners (SPP) and JCM Capital jointly announced today that they have signed an agreement with Rumble Energy, to provide full development, construction and long-term equity financing for a 6 MW portfolio of commercial-scale rooftop installations located throughout Ontario.

“Our partnership with JCM and SPP brings valued experience to the Ontario renewable energy market and signals a strong relationship to develop quality FIT solar projects in the Ontario market”

The agreement follows the recent SPP-JCM announcement on the launch of their Solar Fund to develop, finance, own, and operate 200 MW of solar projects, in Ontario, bringing the current portfolio volume to 60 MW. SPP and JCM have already initiated 54 MW of projects, some of which will start construction in 2011. The Fund focuses on the installation of solar projects on large commercial and industrial buildings across Ontario, utilizing the province's Feed-in-Tariff program via solar Power Purchase Agreements (PPA) with the Ontario Power Authority.

 

Managing Director of JCM, Christian Wray, stated that this agreement continues to add high-quality solar projects to the Fund. “This is an experienced solar developer in both FIT and micro-FIT projects. We are pleased to have the opportunity to work with them to grow Ontario’s commercial rooftop solar market.”

 

“Our partnership with JCM and SPP brings valued experience to the Ontario renewable energy market and signals a strong relationship to develop quality FIT solar projects in the Ontario market,” said Kelly Rumble, CEO of Rumble Energy.

 

“As the Ontario market matures, we are seeing a natural consolidation that occurs in every early market. SPP and JCM are at the epicenter of this movement by providing the leading partnership platform supporting the local industry in completing projects,” said Todd Michaels, Senior Vice-President of Project Development for SPP.

 

In addition to future projects, the Fund seeks to identify projects that can start construction in 2011. Visit www.solarpowerpartners.com/OntarioFund for more information.

 

About Solar Power Partners (SPP)

One of America’s premier independent solar power producers, SPP develops, owns, and operates distributed solar energy facilities (SEFs) and sells solar-generated electricity through solar Power Purchase Agreements.

 

About JCM Capital (JCM)

JCM is a financial advisory company that focuses exclusively on financing solar energy projects in Ontario, Canada. JCM provides development capital and equity for ‘construction-ready’ and operational solar projects. JCM works with developers to assist them with their financing strategy and needs. Current portfolios include rooftop and ground- mounted projects spanning from Southwestern to Eastern Ontario.

 

About Rumble Energy

Rumble Energy offers comprehensive solar photovoltaic power solutions, specializing in client-based renewable energy project development, and focusing on commercial photovoltaic generation facilities in North America. Possessing proven expertise in designing, building, maintaining, and managing commercial solar photovoltaic power projects; current developments include rooftop and ground- mounted projects spanning from Southwestern to Eastern Ontario.

 

Contacts

Solar Power Partners
Todd Michaels, 415-259‐6305
todd@solarpowerpartners.com
or
JCM Capital
Christian Wray, 416-918-3619
cwray@jcmcapital.ca
or
Rumble Energy
Kelly Rumble, 877-214-2040
rumble@rumble-energy.com