PowerStream Inc.



PowerStream Inc.

December 04, 2012 08:26 ET

PowerStream Named Solar Industry 'Developer of the Year'

CanSIA recognizes electric utility for being a renewable energy 'Game Changer'

TORONTO, ONTARIO--(Marketwire - Dec. 4, 2012) - The Canadian Solar Industries Association (CanSIA), a national trade association that represents approximately 650 solar energy companies in Canada, has named PowerStream as the industry's solar generation 'Developer of the Year'.

The award, which was presented to PowerStream at the 2012 CanSIA 'Game Changer Awards' held Monday evening at the InterContinental Toronto Centre, acknowledges demonstrated excellence in the responsible development of solar generation projects through such practices as meaningful stakeholder engagement, strong project management, predicted output and project returns.

In honouring PowerStream with this award, CanSIA also recognized the utility as being an industry leader in advancing solar generation projects and for pursuing initiatives that assist in protecting the environment through the development and use of clean sources of energy.

PowerStream is currently generating electricity with a rooftop solar generation portfolio comprising 30 projects that have a total installed capacity of approximately 4.5 megawatts (MW) AC. The utility has additional projects under construction and plans to implement further projects over the next number of years. When their initial phase of approximately 28 MW is completely built, these projects will power the equivalent of 3,200 homes each year.

The current and planned PowerStream solar generation projects are located in several municipalities including Vaughan, Markham, Barrie, Collingwood, Lindsay, London, Toronto, and Windsor. The utility also has an additional 36 solar projects awaiting approval from the Ontario Power Authority (OPA).

QUOTES

  • "We are thrilled to have received this award from CanSIA," said Brian Bentz, President and CEO, PowerStream. "It is indeed an honour to be recognized by our Canadian industry peers and associates in this manner as we continue to work with many of them to build a solar industry in Canada that is second to none in the world."

  • "Our shareholders' investment in PowerStream's solar generation business offers many layers of returns," explained Frank Scarpitti, PowerStream Board Chair and the Mayor of the City of Markham. "In addition to the revenues we expect to realize from renewable generation, it's also a solid investment in proven technology and our environment for our future and our children's future."

BACKGROUND
  • PowerStream's business model for solar generation involves the company in the leasing of under-utilized rooftops of buildings owned by businesses and local governments in order to install, operate and maintain solar generation systems. This model allows the owners of the buildings to each realize a new revenue stream while assisting PowerStream in generating energy from renewable sources.

ABOUT CanSIA

CanSIA is a national trade association that represents approximately 650 solar energy companies throughout Canada. Since 1992, CanSIA has worked to develop a strong, efficient, ethical and professional Canadian solar energy industry with capacity to provide innovative solar energy solutions and to play a major role in the global transition to a sustainable, clean-energy future.

ABOUT POWERSTREAM

PowerStream is a community-owned energy solutions company that provides power and related services to more than 355,000 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.

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