Week of April 5 – to – April 9, 2010
This week, Ontario issued some $8 billion in new renewable energy contracts as part of the province’s year-old feed-in tariff program. Ontario, Canada’s most populous province, has pioneered the use of cleantech as a catalyst to create a “green collar economy.” Besides the feed-in tariff program, the province has also implemented the Renewable Energy Standard Offer Program (RESOP), which backs renewable energy projects with long-term power purchase agreements with the Ontario Power Authority. These days, a bulk of the North American renewable energy projects securing financing is backed by RESOP power purchase contracts.
Back to the feed-in tariffs, in this latest round, the Ontario Power Authority announced 184 long-term power purchase contracts with wind, solar, hydro and landfill gas projects. Combined, these will generate about 2,500 megawatts of green power. Ontario claims its feed-in tariff has helped attract 694 green-energy projects since 2007, writes Techpulse360.