PHOTOWATT ONTARIO TO SUPPLY MODULES TO LEADING EUROPEAN-BASED RENEWABLE ENERGY SUPPLIER
CAMBRIDGE, ON, May 5 /CNW/ - Photowatt Ontario today announced that it will supply Ontario-made modules to the Canadian subsidiary of a leading global supplier of solar power serving the Ontario solar market.
The supply agreement is a two-year commitment for the manufacture and delivery of approximately 24 megawatts ("MWs") of modules with the potential for volumes to increase by an additional 24 MWs. The Photowatt-designed and manufactured modules will be marketed under the customer's brand name and will be fully compliant with Ontario FIT and Micro FIT program local content requirements.
Photowatt Ontario is producing photovoltaic (PV) modules at the ATS campus in Cambridge Ontario. This "Made in Ontario" production serves the rapidly growing Ontario demand from residential, commercial and industrial markets as well as large-scale solar fields. The world-class line was designed and built by the ATS Automation Systems Group's Cambridge division.
"We are happy to be working with a proven international renewable energy supplier and help fulfill their significant distribution and development activity in Ontario," said Chris Waters, Vice President and General Manager of Photowatt Ontario. "Our ready capacity, ability to ramp capacity quickly, well established local presence backed by international experience and product quality are a good match with the customer's needs, and will enable the customer to meet market demand on a very timely basis."
About Photowatt Ontario
Photowatt Ontario has been established as part of the Photowatt group to
serve the Ontario solar market. Working closely with its parent ATS
Automation Tooling Systems Inc. of Cambridge Ontario, Photowatt Ontario
is uniquely positioned, with Ontario-based manufacturing, substantial
automation and project expertise and extensive global solar energy
capabilities and experience to be a natural domestic solar market
leader. The module line is one element of Photowatt Ontario's
investment in Ontario to serve the Ontario solar market with module
manufacturing and turnkey solar project development and installations.
Photowatt Ontario is also developing solar projects directly, including
64 megawatts of large-scale renewable energy projects in Northern
Ontario with a joint venture partner and is actively pursuing
partnerships with developers/building owners/operators and
municipalities for roof-top solar installations.
The Photowatt group is a turnkey solar project developer and integrated manufacturer. Photowatt designs, manufactures and sells solar modules, and installation kits, and provides solar power systems' design and other value-added services, principally in Western Europe and Ontario. Photowatt France has a well-established and ongoing research and development program, alliances with energy industry leaders through the PV Alliance joint venture and 30 years of experience in processing silicon and making ingots, wafers, cells and modules. Visit the Photowatt website at www.photowatt.com and the Photowatt Ontario website at www.photowattontario.com
Note to Readers: Forward-Looking Statements
This news release contains certain statements that constitute
forward-looking information within the meaning of applicable securities
laws ("forward-looking statements"). Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performance or achievements of Photowatt
Ontario and its affiliates ("PWO"), or developments in PWO's business
or in its industry, to differ materially from the anticipated results,
performance, achievements or developments expressed or implied by such
forward-looking statements. Forward-looking statements include all
disclosure regarding possible events, conditions or results of
operations that is based on assumptions about future economic
conditions and courses of action. Forward-looking statements may also
include, without limitation, any statement relating to future events,
conditions or circumstances. PWO cautions you not to place undue
reliance upon any such forward-looking statements, which speak only as
of the date they are made. Forward-looking statements relate to, among
other things: potential for the order volume to be increased under the
supply agreement, Ontario demand for PV modules, and ramp-up ability.
The risks and uncertainties that may affect forward-looking statements
include, among others: general market performance including capital
market conditions and availability and cost of credit; economic market
conditions; the financial attractiveness of, and demand for, solar
projects and solar products; the availability and possible reduction,
modification, or elimination of government subsidies; the performance
of the respective parties to the agreement; the availability of
supplies, including production equipment; political, labour or supplier
disruptions; the development of superior or alternative technologies to
those developed by PWO; the success of competitors with greater capital
and resources in exploiting their technology; market risk for
developing technologies; and other risks detailed from time to time in
the filings of ATS Automation Tooling Systems Inc. with Canadian
provincial securities regulators. Forward-looking statements are based
on management's current plans, estimates, projections, beliefs and
opinions, and PWO does not undertake any obligation to update
forward-looking statements should assumptions related to these plans,
estimates, projections, beliefs and opinions change.
Chris Waters, Vice President and General Manager, Photowatt Ontario
519 650 6535
Carl Galloway, Vice President, Treasurer, ATS Automation Tooling Systems Inc.
519 653 6500