TORONTO, ONTARIO--(Marketwire - March 16, 2011) -
Glenbarra Energy Management Corp (GEMCO) is currently installing up to 800 ground mounted microFIT Photovoltaic Solar Systems across Southern Ontario. GEMCO has been engaged by Fovēre Glenbarra Energy Fund IV (the "Fund") of Toronto as General Contractor. The Fund has acquired the rights to the land leases and will be financing the projects. GEMCO will provide the system design, installation and long term maintenance for the projects.
Darren Cooper, President of GEMCO, says "We have christened this "Project Sunshine." Cooper believes that this project is very key to promoting renewable energy stating that, "The portfolio represents approximately 8 MW and should substantially boost Solar's image in Ontario empowering homeowners, farmers, and communities to take a more active role in reducing the use of traditional energy guzzling systems and contributing to a cleaner environment for future generations."
Each 10kW system is designed to produce approximately 16,000 kWh of AC energy and reduce GHGs emissions by 3.2 tonnes CO2 in the first year, equivalent to offsetting a midsized car driven 9,350 km.
GEMCO estimates that approximately 50 to 75 direct jobs will be created by this project and help revitalize and create new jobs for Ontarian's in the Manufacturing and Solar industries.
Fovēre Glenbarra Energy Fund IV is the fourth Fund created to support and advance the development of solar PV projects in Ontario. The Fund is a partnership between Fovēre Investments Inc., a private capital management firm with specific expertise in real estate and private equity investments, and GEMCO one of the province's leading installers of green energy systems and potentially the most experienced installer of large commercial solar thermal systems.