City of Toronto Selects Mondial Energy to Provide Solar
Energy at 15 Municipal Buildings
Press Release
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TORONTO - October 14, 2008 – Mondial Energy has been selected to provide the City of Toronto with solar thermal installations at 15 buildings under a solar utility model. Mondial will install, own and operate the solar systems and sell the metered solar thermal energy to the City under a long term Power Purchase Agreement.
The solar installations will displace fossil fuels to heat hot water. Buildings under consideration for the solar utility include water treatment facilities, shelters, homes for the aged and community centers. The solar utility model will allow for the use of proven solar thermal technology without using City capital, yet provide for energy cost savings over the term of the agreement and significant reductions in CO2 emissions.
The City of Toronto deserves huge recognition for their innovation,” said Alex Winch, President of Mondial. “They developed a robust and open process to buy heat from solar, and in so doing have cast a precedent for municipalities across North America.”
This measure supports the City’s efforts to become the renewable energy capital of Canada, adopted by City Council in July 2007 as part of the report: “Climate Change, Clean Air and Sustainable Energy Action Plan: Moving from Framework to Action”.
About Mondial Energy:
Established in 2004, Mondial Energy is a Toronto-based “Green Energy” facilitator of solar projects. Mondial pays for all design and installation costs for commercial-scale solar systems, and sells the metered generated energy at competitive rates. Recognized internationally for its renewable energy financing model, Mondial Energy strives to become the leading supplier of solar thermal energy in North America.
For more information on Mondial:
Please visit us at Solar Power 2008 Oct 14 – 16 in San Diego,
Booth #1912, or on the web at www.mondial-energy.com or
contact Francine Borsanyi, 416-698-6190,