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Toronto, Ontario, Jan. 12, 2007 -- The University of Toronto (U of T), ARISE Technologies and The Portlands Energy Centre (PEC) have joined forces to create Canada's largest solar research facility, which will be located on the PEC site on Toronto's waterfront.
When completed, the facility is designed to harvest enough solar energy to power up to 1,000 homes. The community will be able to participate through a community based share offering.
Under the agreement, PEC will provide land worth about $2.4 million. ARISE will design and install a photo power system utilizing high efficiency photovoltaic (PV) cell technology developed by ARISE and U of T. The solar park will create between 500 kilowatts and 1 megawatt, representing an investment between $5 and $8 million.
U of T students and staff at ARISE will use the facility to conduct research on renewable energy systems and technologies. This will help develop the utilization of PV systems for commercial and utility scale systems.
The PEC site is in an urban setting close to the university, has access to transmission lines and offers a large tract of land with an unobstructed southern exposure.
Later this year, ARISE will issue a community based share offering that will allow residents to participate in the project. Standard Offer Contract details with the Ontario Power Authority and government officials regarding permits have not been finalized. Details on the community share offering and exact size of the facility will be announced at a later date. The project is expected to be installed in late 2008 or early 2009.
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