|By Marketwired .||
|January 7, 2013 03:06 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/07/13 -- Solar Flow-Through 2012-I Limited Partnership ("Solar Flow-Through"), a limited partnership formed under the laws of British Columbia, has completed the second closing of a private placement of limited partnership units ("Units"). 8,300 Units were issued in the second closing for gross proceeds of CDN$830,000, bringing to the total raised in 2012 to $2,857,000. Subsequent additional offerings are planned for Q1 2013. The offering was led by Macquarie Private Wealth Inc.
Developing Solar Power in Ontario
Solar Flow Through President and CEO, Matt Wayrynen, reports, "The net proceeds of the offering will be used by Solar Flow-Through to develop and operate solar power generation projects in the Province of Ontario under the Ontario Power Authority's (OPA) Feed-in-Tariff (FIT) program. FIT contracts provide fixed purchase rates for solar power and are guaranteed by the OPA for 20 years."
Funding Structure and CRCE Tax Incentives
Limited Partners' investments would fund a portion of the capital costs of each project. These expenses are expected to qualify as Canadian Renewable Conservation Expenses (CRCE). The common shares of the Subsidiary Companies purchased by the Partnership are expected to constitute "flow-through shares" for the purposes of the Tax Act.
Focus: Commercial Rooftop and Ground Mount Installations
Solar Flow-Through proposes to develop projects with capacities of 100 kW to 500 kW AC, focusing initially on (i) commercial rooftop installations covering approximately 25,000 to 150,000 square feet and (ii) fixed ground mount installations. These installations are connected to the electric grid (grid-tied), allowing the producer to feed electricity into the grid and receive payment under the OPA's FIT program.
About Solar Flow-Through
Solar Flow-Through, a Canadian-based partnership with offices in Vancouver and Toronto, was formed to develop and operate solar photovoltaic (solar PV) power generation projects in the Province of Ontario. Solar Flow-Through's investment objective is to provide investors with favourable income tax benefits during the development phases of solar PV projects, followed by steady and attractive income once commercial operations begin. For more information, visit www.solarflowthrough.com.
ON BEHALF OF THE BOARD:
Matt Wayrynen, CEO
Solar Flow-Through 2012-I Limited Partnership