PowerStream Adds 2.6 Megawatts of Solar Generation Projects

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.