Just Energy Enters Into Agreement With Clean Power Finance

Just Energy (TSX:JE)(NYSE:JE), a competitive retailer of natural gas and electricity, today announced the Company has entered into a comprehensive, long-term agreement with Clean Power Finance, Inc. ("CPF") to sell residential solar electricity.

This agreement unites Just Energy's strengths in customer acquisition and experience with CPF's solar finance and fulfillment capabilities. CPF's online platform allows Just Energy to sell residential solar finance products and connects the company with a national network of qualified solar installation professionals. Just Energy provides CPF's network with a large solar sales pipeline, as well as access to Just Energy's 1.6 million existing residential energy customers.

"This is an exciting event for Just Energy that begins to shape a key component of our future growth strategy," said Deb Merril, co-CEO of Just Energy. "We believe we have secured an ideal solar partner that allows us to enter the solar market with a strategic approach that complements our existing core competencies and maintains our commitment to growing in a less capital intensive manner. Our customers will be able to access not only our current energy solutions, but also a long-term, environmentally sustainable solar solution." Co-CEO James Lewis added, "While our core energy retail business remains healthy and growing, expansion into solar was clearly the next step in maximizing the value proposition Just Energy brings to our growing customer base. Our goal is to offer the best energy solutions possible to homeowners, and the expertise CPF brings to the partnership will allow us to hit the ground running."

Just Energy will act as an originator of residential solar deals that are financed and installed via CPF, according to the terms of the agreement. Just Energy will also be able sell complementary energy management solutions to solar customers. Additionally, the agreement provides Just Energy the option to participate in certain minority portions of project equity, which provide attractive 20-year returns on project assets.

"Just Energy excels at helping millions of homeowners manage their energy needs," said Nat Kreamer, CEO of CPF. "We are excited to work with Just Energy to help millions more do so with solar electricity."

Just Energy and CPF plan to roll out the solar program beginning in the first calendar quarter of 2015 in New York and California, before expanding the offering into key target solar markets across North America.