Soventix Canada Inc.

Soventix Canada Inc.

August 20, 2013 05:53 ET

Soventix Canada Inc. Awarded 4MW Worth of Contracts by the Ontario Power Authority

TORONTO, ONTARIO--(Marketwired - Aug. 20, 2013) - Soventix Canada Inc., a full turn-key solar PV developer, has been awarded 8 contracts from the Ontario Power Authority (OPA) under the Feed-In Tariff program (FIT 2.1) totaling 4 MW. Through its joint-venture Endura Energy Developments Inc. and its renewable energy co-operative development partners, Soventix is looking forward to building and commissioning the projects over the next 12 months. All 8 projects are majority owned by renewable energy co-operatives throughout Ontario.

The OPA provides fixed tariffs under the smallFIT program for ground-mount or rooftop solar systems under 500 kW for 20 years. The program provides an opportunity for Ontario's municipalities, landlords, and local community members to benefit from sustainable energy.

Ontario Continues Commitment to Renewable Energy

The Ontario Ministry of Energy has renewed its commitment to renewable energy by setting annual procurement targets for the OPA of 150 MW for smallFIT and 50 MW for microFIT for the next 3 years. The OPA is also opening another application window for 130 MW of smallFIT contracts in the fall of 2013. Following the World Trade Organization's ruling there will be no domestic content requirements in future FIT rounds.

Soventix and its joint venture Endura Energy Developments Inc. are working on future ground-mount and rooftop based project opportunities for the upcoming FIT application windows. Soventix will be partnering with corporations, public entities and farmers looking for a sustainable energy supply and a solid investment to realize new solar projects. Soventix is confident that the Government's commitment to renewable energy will provide a stable market in Ontario over the next few years.

About Soventix Canada Inc.

Soventix Canada is dedicated to delivering energy solutions that contribute to a sustainable future. Located in Toronto, Ontario since 2010, Soventix is a solutions-oriented, full 'turn-key' provider, with expertise in solar PV system development, design and project implementation. Through its partnerships, Soventix Canada is currently participating in approximately 20MW of solar projects including both rooftop and ground-mount under the Ontario Feed-In Tariff program. As a subsidiary of a German-based PV project developer, Soventix Canada has the strong support of a private shareholder with high-tech and green energy expertise. For more information on Soventix Canada Inc, please visit: www.soventix.ca

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