TORONTO, ONTARIO--(Marketwire - June 20, 2012) - GEMCO Solar Inc. (GEMCO), an Ontario based solar developer and EPC Contractor, is pleased to announce completion of Orangeville's first 250 kW AC, 303 kW DC roof top solar photovoltaic system. The solar PV facility is hosted on the rooftop of a building located at 95 John Street, owned by Fred's Tire Discounter and Auto Centre. The project was built as part of GEMCO's roof lease program in partnership with Fovēre Investments Inc. Ownership of the facility, once complete, resides with a Fovēre fund whose objective is to accumulate renewable energy generation assets. The installation, comprised of 1,200 roof top solar photovoltaic panels, is expected to generate approximately 354 MWh of electricity per year which will offset a conservative 1,243 metric tonnes of CO2e over 20 years or the equivalent of 534,083 Litres of gasoline not consumed.
GEMCO is an industry leading provider of green energy services specializing in the design, installation and financing of a wide variety of renewable energy technologies, including solar water heating, solar heating and cooling and PV solar energy systems. Over 3.5 MW of solar photovoltaic ground-mount and roof top projects were completed in 2011. In addition, GEMCO has installed over 30 commercial scale solar thermal projects including Sick Kids Hospital and Toronto Zoo. The 2010 TIPTA award for Canada's first "Triple-State" absorption thermal Heating/Cooling system was received by GEMCO for a hospital project commissioned in 2011. Information about GEMCO is available at www.gemcosolar.co.
About Fovēre Investments Inc.
Fovēre Investments Inc. (Fovēre), is a private capital management firm with specific expertise in real estate, private equity and Clean-tech Solar Infrastructure investments. Fovēre's knowledgeable team has the experience and diversity to manage and optimize value creation initiatives as part of project funding solutions. Information about Fovēre is available at www.fovere.ca.
About Fred's Tire Discounter and Auto Centre
Fred's Tire Discount and Auto Centre has been serving the needs of the Orangeville and surrounding areas since its inception in 1966. Fred's Tire Discounter and Auto Centre takes pride in a longstanding tradition of quality, reliability and safety as part of its automotive industry which ranges from tires to oil changes and brakes to general repairs. Information about Fred's Tire Discounter and Auto Centre is available at www.tirediscounter.ca.