Enerdynamic to fund 90% of C$150 million solar project with non-recourse, other funding

By Lisa Kerner

Charlotte, N.C., Nov. 3 – Enerdynamic Hybrid Technologies Corp. entered into an agreement with Reliant First Nation Ltd. Partnership to acquire up to 46 MW of solar energy power generation contracts from Reliant.

It is expected that non-recourse and non-dilutive project and off-take financing will be used to finance up to 90% of the total project cost of C$150 million, according to a new release.

The projects represent a total of 176 solar energy systems to be installed on various school rooftops in Ontario over a three-year period.

“This transaction is a key part of our three pronged revenue generation model, which includes owning and operating commercial scale projects, selling our ‘Ener’ micro-utility product line as well as our energy installation services,” Enerdynamic chief executive officer John Gamble said in a press release.

“We have an ability to finance the majority of these projects through non-dilutive financing options.”

Based in Toronto, Enerdynamic, formerly MCM Capital One Inc., offers commercial energy solutions that reduce the energy costs of large businesses.

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