SOURCE: PowerStream Inc.

PowerStream

PowerStream Inc.

July 27, 2015 08:22 ET

PowerStream Adds 2.6 Megawatts of Solar Generation Projects

Acquires Roof-Top Installations on 14 StorageMart Buildings From JCM Capital

VAUGHAN, ON--(Marketwired - July 27, 2015) - PowerStream, a Canadian leader in the development and operation of roof-top solar photovoltaic (PV) generation facilities, has acquired a portfolio of projects totalling 2.575 megawatts (MW) from JCM Capital.

The portfolio consists of 14 roof-top solar PV generation projects in Ontario, located on StorageMart Self-Storage facilities throughout Toronto, Markham, Barrie and London. The combined facilities are Feed-in-Tariff (FIT) 1 projects, expected to generate 3,500 megawatt hours (MWh) annually, which is enough energy to power 365 homes.

PowerStream has partnered with JCM Capital since 2012 to manage the design, construction and commissioning of the projects. Both companies have been highly committed to the successful transfer of ownership and demonstrated innovative thinking, flexibility as well as win-win attitudes throughout the acquisition process.

QUOTES

  • "PowerStream is delighted to have worked with JCM on several solar PV generation projects to our mutual benefit," said Maurizio Bevilacqua, PowerStream Board Chair and City of Vaughan Mayor. "This acquisition aligns with our strategic plan and our sustainability strategies as we continue our efforts to expand our solar generation portfolio throughout 2015 and beyond."
  • "JCM is proud to have developed a high quality and sizable portfolio of commercial roof-top solar PV generation facilities in Ontario through such an outstanding collaboration with PowerStream," said Martin Ritchie, JCM Chief Compliance Officer. "Our legacy and roots were born in Ontario, and these projects and our strong partnerships will be remembered with fondness as we continue to expand our clean power developments and operations in emerging markets within Latin America and Africa."

BACKGROUND

  • PowerStream established its solar generation division in 2010 to develop, construct, own and operate renewable generation facilities in Ontario.
  • Since entering the renewable generation business, PowerStream has developed 26 solar generation projects totaling 2.6 MW and has acquired an additional 60 projects of 15.2 MW from five other solar developers.
  • In addition to the development of solar generation projects, PowerStream intends on continuing to acquire projects from developers as part of its ongoing commitment to champion renewable generation in Ontario.

ABOUT POWERSTREAM

PowerStream Inc. is a community-owned energy company that provides power and related services to more than 375,000 customers residing or owning a business in communities located immediately north of Toronto and in Central Ontario. It is jointly owned by the Cities of Barrie, Markham and Vaughan.

ABOUT JCM CAPITAL

JCM Capital is a private equity firm that focuses on the development of clean power projects that have a positive social, environmental and economic impact. JCM is currently developing a multi-billion dollar clean power portfolio that includes both utility-sized solar projects in emerging markets. Founded in 2009 and headquartered in Toronto, JCM has offices in Mexico City and London, UK.

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