November 29, 2010
Flynn Canada buys 50% stake in RESCo Energy
Flynn Canada said Monday it has taken a 50 per cent ownership position with RESCo Energy Inc., creating what the companies say will be Canada’s first solar-focused engineering, procurement and construction (EPC) firm.
RESCo will retain its name and operating structure.
“The Ontario solar industry has been lacking an experienced engineering and construction firm that can underwrite the delivery risk of designing and building its solar arrays,” RESCo Energy president Fidel Reijerse said in a news release.
The Ontario Power Authority has executed over 1,000 contracts for roof top solar generating systems, representing approximately $1 billion of investment in EPC services, the companies noted.
“As roofing specialists, the opportunity to deliver on this market, takes natural advantage of the relationships, scale, and vision of the Flynn team,” said Flynn chief operating officer John McManus.
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