Originally published on Sustainnovate.
By Henry Lindon
The Canadian province of Ontario’s Independent Electricity System Operator (IESO) recently awarded around 140 megawatts (MW) worth of new solar energy project contracts at a weighted average price of CAD$0.1567/kWh (US$0.12), according to recent reports.
The roughly 140 MW worth of project capacity bids is spread across 7 contracts. The contracts were awarded following the competitive tender launched by IESO back in March 2015 — as part of its Large Renewable Procurement (LRP) scheme.
The solar energy allocation in the tender was oversubscribed to a considerable degree (12 times over) — with 1,742 MW worth of bids being registered.
The 7 winning projects saw bid ranges of between CAD$0.1415/kWh and CAD$0.1785/kWh. The winning solar energy projects included: BluEarth Renewables (54 MW), EDF EN (10 MW and 12 MW), Ontario Corporation (1.375 MW), Invenergy (6.75 MW), SunEdison (44 MW), and SkySolar (11.76 MW).
The president and CEO of BluEarth, Grant Arnold, commented: “This is an exciting accomplishment for our company and the result of an incredible amount of hard work. I am proud of our team and grateful to our partners and stakeholders for their effort and support in bringing the project to this point.”
In addition to the solar energy projects, 300 MW worth of wind energy projects were awarded contracts (weighted average price of CAD$0.0859/kWh), and 15.5 MW of hydroelectric projects (CAD$0.1759/kWh) were as well.