Mondial Energy installs Ontario’s largest roof-top solar heating system
TORONTO, Sept. 12, 2007
Source: Mondial Energy Inc. /Yahoo business news
http://biz.yahoo.com/prnews/070912/to290.html?.v=56
Mondial Energy installation to reduce greenhouse gas emissions by 61 tonnes per year
Mondial Energy Inc. has installed Ontario’s largest, most powerful solar thermal heating system at one of WoodGreen’s affordable housing sites on Toronto’s Queen St. East. The installation is a partnership between WoodGreen Community Services and Mondial Energy, which builds and owns solar sites on commercial, residential and municipal buildings.
“By providing the capital for the installation, Mondial breaks the up-front cost barrier and by assuming the ongoing maintenance responsibility, we also break the technology risk barrier,” said Alex Winch, President, Mondial Energy. “For 100 per cent clean energy, this is both an attractive and an affordable alternative, especially for non-profit organizations that are committed to the environment.”
Consisting of 108 glazed flat plate solar collectors, the installation at 1070 Queen St. East will generate 34 per cent of the total annual hot water requirements at the 170-unit building. WoodGreen Community Services will only pay for the solar thermal energy delivered to the building at a fixed 10-year rate. The custom-designed solar thermal energy system will be paid for, owned and operated by Mondial Energy.
“Like many other organizations looking for ways to go green and reduce their impact on the environment, we felt it was important to lead the way in our sector,” said Brian Smith, President and CEO, WoodGreen Community Services. “With no upfront capital cost for changing to solar, this installation allows us to use our limited capital resources for other critical services for our clients.”