BKS - CNSX
Frankfurt/Berlin Exchanges - WKN 871666
| October 10, 2013 Solar Flow-Through Raises $10M for Development of Commercial Rooftop Solar PV Projects in Ontario | |
| VANCOUVER - Solar Flow-Through 2012-I Limited Partnership ("Solar Flow-Through"), a limited partnership established by Berkley Renewables Inc. ("Berkley") under the laws of British Columbia, reports that it has raised $10 million in the closing of a private placement initiated in August 2013. The funds are earmarked for development and operation of commercial rooftop solar photovoltaic (solar PV) projects under the Ontario Power Authority's (OPA) Small Feed-In-Tariff (FIT) program. In July 2013, Solar Flow-Through and its partners were awarded 52 Small FIT 2.1 solar PV contracts totaling 12.18 MW AC (approximately 14.62 MW DC). These projects are expected to be developed during the next eighteen months. In November and December 2013, Solar Flow-Through intends to apply for additional commercial rooftop and ground mount solar PV contracts under the OPA Small FIT 3 program. The company is in discussions with potential partners for its applications. Berkley and Solar Flow-Through Berkley owns 95% of Solar Flow-Through General Partner Ltd., the general partner of Solar Flow-Through (the "General Partner"), as well as Solar Flow-Through Management Ltd., the manager of Solar Flow-Through (the "Manager"). The General Partner is responsible for approving and monitoring Solar Flow-Through's various service providers, including the Manager. The Manager directs the affairs of, and provides day-to-day management services to, Solar Flow-Through. In exchange for its services, the Manager will participate in the profits of the Limited Partnership. Berkley, as 95% holder of the Manager, will be entitled to 95% of the profits generated by the Manager. About Berkley Renewables Berkley Renewables Inc. is a growth-oriented oil and gas issuer also pursuing renewable energy opportunities, primarily in the solar energy sector. Solar Flow-Through, a Canadian-based partnership, was formed to develop and operate solar photovoltaic power generation projects in the Province of Ontario. For more information, please contact Matt Wayrynen: 604.682.3701 or info@berkleyrenewables.com. Other information available at www.berkleyrenewables.com and www.solarflowthrough.com. ON BEHALF OF THE BOARD "Matt Wayrynen" _________________________________ Matt Wayrynen President and Chief Executive Officer The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. This release may contain statements that are considered as forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement. | |
You can view the Previous News Releases item: Wed Jul 31, 2013, Solar Flow-Through and its Partners to be Awarded 52 Contracts Totaling 12.18 MW AC for Solar Power Development in Ontario You can return to the main News Releases page, or press the Back button on your browser. |