Neutopia Signs Joint Venture to Develop 10MW Solar Farm

November 25, 2010 » In: Neutopia News, Sample Projects » Leave a comment

Neutopia ecoSOLUTIONS Inc. signed a game-changing partnership agreement to develop a 10MW solar farm in Ontario, Canada. The unique Neutopia Green Community Partnership Program™ enables landowners to become full partners in projects rather than lease their land to other developers for meager royalty payments. This Agreement is the first of its kind and may set a new standard in Community Development projects as Neutopia’s Social Benefit business model re-directs revenues right back into the community’s that host their projects.

We didn’t like the way energy and infrastructure projects were being developed… so we created a new one.

Why would a landowner ever want to lease their land when they can now form a partnership with Neutopia? We are doing our best to attract investors for projects under $5 million however for now our focus has to be on the larger projects where financing is readily available.

Our Social Benefit business model has the potential to change the way solar and wind projects are developed all over the world, for the ultimate benefit of each community that embraces these technologies.

This project, if approved by the OPA Feed-in-tariff program, is estimated to generate no less than 12,500,000kWh per year and earn more than $110 million over the 20 year Power Purchase Agreement.

While Neutopia will incorporate a solar farm at each ecoPARK being planned, some solar farms will be stand-alone projects such as Project Solar Fox:

Location of 10MW Solar PlantPhase I of the project is being planned to include 500kW on each of three properties for a total of 1.5MW, followed by an expansion for phase II to complete a total of 10MW. Neutopia has exclusive rights to provide the solar farm equipment and technologies including panels, modules and racking systems.

The company issued a Request for Expressions of Interest to every solar company in Ontario and evaluated all interested parties and scored them based on price, performance history, industry reputation, and their corporate social responsibility plans. As Neutopia’s first solar project, the $40 million Cap Ex will generate significant revenue for the company and help secure their position in the province as a key player in the solar market.

Details:

  • Location: Ontario, Canada
  • More than 200 acres over 5 properties
  • Land Classification 4 & 5
  • Estimated 25 MW potential
  • Phase I development = 3 properties each 500 kW
  • Phase II development = up to 10MW total
  • preFIT Consultation completed with Hydro One, latest report issued 09/23/11
  • Estimated Revenue from electricity sales over 20 Year PPA: $110,750,000*
  • Estimated Yearly Revenue: $5,537,500*

*estimates are for fixed systems; use of thin film and/or trackers will generate greater revenue

Solar Farms Projects

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