Atlantic completes 250KW utility project in Canada

By Editor


Atlantic Wind and Solar has completed construction of three utility-scale solar farms totaling 250 KW at Mississauga in Ontario, Canada. Atlantic Solar, the Canadian subsidiary of Atlantic, developed the project.

The $1.57-million commercial rooftop installation spans three buildings. And it is expected to produce 6,000 megawatt hours of power over the next 20 years. The power will be sold under the Feed-in-Tariff program of the provinces, according to a statement.

In March Atlantic had completed construction of a 500 KW Utility Scale solar power plant in Mississauga.

The $3-million commercial rooftop installation, which comprised about 2,300 panels, is expected to generate 12,500 megawatt hours of electricity over the next 20 years. The clean energy was also to be sold under the Feed-in-Tariff program of the provinces.

Atlantic has more than 750 MW of projects at various stages of development in Canada, South America, Asia and the Caribbean.

In 2014 Atlantic recorded a sales growth of 38 percent, taking its revenue figure to $5,409,135. The profitability for the period was $2,410,768 — a 1,138 percent improvement.

Further, the company recorded a reduction in its operating expenses for the sixth straight year to 542,355, which was a 46.6 percent decrease from the year prior.

Atlantic also showed a 53 percent reduction in its liabilities to $2,267,031 and its assets were valued at $4,407,107 last year.

Ajith Kumar S

[email protected]

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