October
25, 2005 Toronto - Mondial Energy
Inc. is pleased to announce it has been retained by Neighbourhood Link
Homes to generate renewable thermal energy for the domestic hot water
needs at its 64-suite residence located at 11 Main Street and at its
44-suite residence at 680 Kingston Road in Toronto, Canada. The two
buildings are joined by a common hot water heating system currently.
Mondial will pay for,
own and maintain a system of 80 flat plate solar thermal collectors
with a total area of 160 square meters. The collectors are expected
to displace 18,600 cubic meters of gas annually reducing Carbon Dioxide
emissions by 37 tonnes annually. The emission reduction equates to
221 kg per occupant, representing almost one-quarter of the Canadian
Federal government’s One-Tonne challenge for the building’s
residents.
Mondial will bill Neighbourhood Link Homes for the thermal
energy delivered from the solar collectors. Mondial has priced the
thermal energy to be a lower-cost alternative than using natural gas,
and has committed to its contract price for a term of ten years.
“Mondial
is delighted to be of service to Neighbourhood Link at their 11 Main
Street – 680 Kingston Road location,” said Alex Winch,
President, Mondial Energy.
“As a non-profit housing provider,
we are constantly constrained by scarce capital and operating resources,” said
Judith Leon, Executive Director, Neighbourhood Link. “Mondial
has again met our needs, presenting us with an innovative energy solution
which involves:
- no investment on our part,
- lower monthly
operating costs,
- long-term price security and,
- environmental
superiority over our existing water heating services.”
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