Northland Power Signs Agreement to Purchase Ontario-Made Solar PV Panels from MEMC

published: 2011-11-17 14:46 | editor: | category: News

Northland Power Inc. ("Northland") (TSX:NPI)(TSX:NPI.PR.A)(TSX:NPI.DB.A) announced that it has signed a Master Module Supply Agreement with MEMC Singapore Pte. Ltd, an affiliate of MEMC Electronic Materials, Inc. ("MEMC"), to purchase solar PV modules that will be manufactured in Newmarket, Ontario for its 130 Megawatt ("MW") Ontario solar portfolio. The modules will be used as part of an approximately $600 million investment by Northland to build ground-mounted solar projects in Ontario, representing one of the largest investments in Ontario's solar energy sector.

In addition to the 400 workers currently employed at the site which produces MEMC solar PV modules, Northland's investment is expected to create another 700 new engineering and construction jobs through the build-out of the projects.

"Northland's significant investment in ground-mounted solar builds on our 25-year history of being an innovative and entrepreneurial energy generator in Ontario," said John Brace, President and CEO of Northland Power. "We are pleased to be partnering with MEMC because of their commitment to high quality standards, and their demonstrated willingness to invest in Ontario for the long-term."

Northland operates over 1,000 MW of diversified generation, and is actively developing renewable and thermal projects in Ontario, including wind, run-of-river, co-generation, as well as a 400 MW pumped storage facility east of Peterborough, Ontario.

"We are proud to be working with a respected energy industry leader such as Northland Power," said Ahmad Chatila, CEO of MEMC. "As an innovative company with over 50 years of experience, we are pleased to deliver on our commitment to bring renewable energy solutions and sustainable jobs to the people of Ontario."

Earlier this year, MEMC began manufacturing solar PV panels in Ontario for SunEdison, its solar energy subsidiary, in order to help the company meet the 60 percent domestic content requirements of the Feed in Tariff program. In July 2011, MEMC announced the expansion of production with its manufacturing partner Flextronics.

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