“Our new initiative addresses the lack of capital for small and medium-sized developers and EPC firms. With Canada Green ESCO, we will provide flexible financing solutions for this market segment”, Leonid Mednik, COO and CFO.
Toronto, ON (PRWEB) May 04, 2011
Eclipsall Energy Corp. announced today that the firm is now offering a financing program for Ontario solar panel projects. The financing solutions will be provided through a joint venture with Canada Green ESCO.
Eclipsall Financial Services (EFS) was created to provide financing solutions to customers looking for equity and debt financing for their PV projects.
Leonid Mednik, COO and CFO of Eclipsall said the new financial services program complements the company’s suite of services. “The flow of capital into the Ontario market is represented primarily by a handful of developers with large ground-mount and rooftop project pipelines. This has not addressed the lack of available capital for small and medium-sized developers and EPC firms. Eclipsall Financial Services’ partnership with Canada Green ESCO aims to provide flexible financing solutions for this particular market segment”, he said.
Ontario’s solar manufacturing sector is ramping quickly to meet the market demand prompted by the provincial government’s Feed In Tariff program, the largest climate change initiative in Canada.
Eclipsall Energy Corp. was established in 2009 and is now well on target to become a leader in the manufacturing and distribution of high performance PV modules. The company’s manufacturing and head office operations are located in Toronto, ON where it will focus production on high performance monocrystalline PV modules in both 60 and 72 cell configurations. http://www.eclipsall.com
Canada Green ESCO Inc. (CGE) is privately owned and Canadian-based. The company finances solar PV projects utilizing industry leading non-recourse & long-term debt solutions. Stand-alone and portfolio financing aims at institutional investors and solar park operators. CGE mitigates the risks through cash-flow insurance, performance guarantees and third-party warranties making construction of solar PV projects bankable.