Mondial Energy Signs WoodGreen Community Housing Inc. to Solar Thermal
Press Release
Toronto, ON November 14, 2006 – Mondial Energy is pleased
to announce that WoodGreen Community Housing Inc. has agreed to purchase
renewable thermal energy under a 10-year Power Purchase Agreement. A
custom-designed solar thermal installation will be paid for, owned
and operated by Mondial Energy at WoodGreen’s 170-unit social
housing site at 1070 Queen Street East in Toronto. WoodGreen
Community Housing will pay for the solar thermal energy delivered to
the building at a rate favorable to the natural gas displaced.
The solar thermal array will consist of 108 glazed flat plate collectors totaling 324 square meters in size. The collectors are expected to displace 32,000 cubic meters of gas annually, thereby reducing greenhouse gas emissions by 53 tons per year. Annual energy production from the array is expected at 201,961 kWh, and will be used to offset natural gas consumption for heating of domestic hot water. Taylor Munro Energy Systems of Vancouver has been retained to design and install the solar array.
“We are pleased to provide WoodGreen Community Housing with an economical and sustainable alternative to traditional power sources,” said Patty Hargreaves, Vice President of Business Development. “By signing a Mondial Energy Power Purchase Agreement, WoodGreen will be able to reduce their exposure to rising energy rates while at the same time demonstrate their commitment to the environment. We look forward to a lasting relationship with them.”
“Mondial’s efforts to promote renewable and affordable
energy ties in well with WoodGreen’s mission of promoting wellness
and self-sufficiency. With Mondial, WoodGreen is able to enjoy
the benefits of solar energy without the upfront capital cost, thereby
allowing us to use our limited capital resources on other important
services for our clients,” said Brian Smith, President and CEO
of WoodGreen.