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Solar Flow-Through Raises $10M for Development of Commercial Rooftop Solar PV Projects in Ontario

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Solar Flow-Through Raises $10M for Development of Commercial Rooftop Solar PV Projects in Ontario

 

 

 

 

 

 

Solar Flow-Through 2012-I Limited Partnership a limited partnership established by Berkley Renewables Inc. (CNSX:BKS)(FRANKFURT:WKN 871666)(BERLIN:WKN 871666) 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 projects under the Ontario Power Authority’s Small Feed-In-Tariff 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 as well as Solar Flow-Through Management Ltd., the manager of Solar Flow-Through.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.

Posted October 11, 2013

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