Construction/Building — February 9, 2010

NorthGrid Solar Inc. launches into Ontario Feed-In Tariff market with solid industry experience and financing resources

MARKHAM, ON, Feb. 9 /CNW/ - Dundurn Capital Partners Inc. and Generation PV Inc. are pleased to announce a recently completed investment in NorthGrid Solar Inc. NorthGrid Solar is poised to take advantage of the recently introduced Ontario Feed-In Tariff (FIT) program allowing private developers to deliver renewable sources of energy directly to the Ontario power system. NorthGrid Solar has the unique capability to provide turnkey solar project development including: engineering, procurement, construction, financing and after-sales service and support for both building owners and land owners. Executive appointments include Carlo Di Gioacchino as President & CEO and Eric Kalmbach as Chief Operating Officer. Generation PV's senior management team have assumed positions within NorthGrid Solar.

"We're extremely excited about the enormous potential we see in this industry," said Di Gioacchino. "The strength of our partnership and our management team positions NorthGrid Solar to become a leading participant in the Ontario renewable energy industry." Mr. Di Gioacchino brings a wealth of executive start-up experience in regulated industry as well as property development experience at Dundurn Capital Partners Inc. Mr. Kalmbach brings almost 30 years of experience in the solar photovoltaic business to NorthGrid Solar Inc. NorthGrid Solar will focus on both rooftop and ground mount installations throughout the Province. The company is actively involved in negotiations with clients to supply and install systems and in the acquisition of solar sites.

    About Generation PV Inc.
    ------------------------

Generation PV is a Markham, Ontario-based company whose principals have a combined 50-plus years in the solar energy market. They are Ontario's pre-eminent solar energy supplier and bring worldwide experience including installations for Environment Canada, the Canadian Coast Guard and large Canadian retailers. Generation PV has been involved in over 45,000 solar photovoltaic systems in over 60 countries around the globe. Generation PV will continue to focus on product distribution.

    About Dundurn Capital Partners Inc.
    -----------------------------------

Dundurn Capital Partners Inc. is a private equity and venture capital firm focused primarily with clean-tech energy investments, sustainable development and nanotechnology. Current investments include LEED(R) Platinum high-rise construction projects through Dundurn Edge Developments Inc., a private equity placement in CO2 Solution Inc. (TSX:CST), a Canadian carbon dioxide capture technology company, as well as EcoSynthetix, a nanotechnology company.

For further information: visit www.northgridsolar.com or call Carlo Di Gioacchino at (905) 531-4964

Print | Email