- Innovative product combines the benefits of income from Solar energy
power generation with income tax benefits -
TORONTO, Sept. 10 /CNW/ - A first of its kind for Canadian investors, the
Solar Income Fund LP, which is now available by Offering Memorandum across
Canada, helps investors take advantage of government guaranteed feed-in
tariffs and asset-backed projects in the solar energy power generation sector,
while providing significant income tax deductions on the initial investment.
With its management fees tied directly to the success of the fund, the
Solar Income Fund expects to invest in its first generation project before the
end of the month and anticipates targeted preferred-distribution of eight per
cent per annum.
"We've spent the last 18 months developing a product that generates Green
income by selling into the utility grid of the world's most mature renewable
energy economy (Germany)," said Paul Ghezzi, Managing Director of the Fund.
"The German government is years ahead of other countries in implementing its
renewable energy strategy, allowing us to offer Canadian investors access to
solar energy power generation with long term, guaranteed power purchase
agreements. As such, we're reflecting our confidence in this market and our
performance with management fees that are way below the industry standard."
The Solar Income Fund will invest in projects that sell solar energy
power generation into local utility grids in Germany, where these projects are
supported by government-backed incentives and guaranteed 20 year power
purchase agreements, making the investments both secure and stable. The Solar
Income Fund leverages direct ownership of energy generating assets to help
increase diversification and reduce volatility as part of an overall portfolio
Structured as a Limited Partnership the Solar Income Fund, also provides
certain income tax benefits which are most suited to Canadian Accredited
Investors. Further, it presents a Socially Responsible and Green alternative
to traditional energy and mining flow-through share investments and garners
Canadian residents access to income tax deductions of up to 50% of their
"Green Capitalism can be alive and well when the investments are sound,"
added Ghezzi. "Canadians are looking for green investment alternatives that
provide both stable income and growth potential - the Solar Income Fund will
deliver just that."
The Solar Income Fund LP provides qualified investors with an exclusive
opportunity to participate in the global green infrastructure boom through
direct ownership of energy producing assets. For more information about the
Solar Income Fund, visit www.solarincomefund.com.
THE SOLAR INCOME FUND LP IS ORGANIZED IN ACCORDANCE WITH THE TERMS AND
CONDITIONS OF A LIMITED PARTNERSHIP AGREEMENT WHICH PROVIDES THAT NO UNITS MAY
BE OWNED BY, AMONG OTHER THINGS, A PERSON WHO IS A "NON-RESIDENT" OF CANADA
FOR PURPOSES OF THE INCOME TAX ACT (CANADA) OR A PARTNERSHIP.
CERTAIN STATEMENTS INCLUDED IN THIS NEWS RELEASE CONSTITUTE
"FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE SECURITIES ACT
(ONTARIO). SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS,
UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS,
PERFORMANCE OR ACHIEVEMENTS OF THE PARTNERSHIP TO BE MATERIALLY DIFFERENT FROM
ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS
THE EXPECTATIONS OF SOLAR INCOME FUND LP AS AT SEPTEMBER 10, 2009 AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. HOWEVER, SOLAR INCOME FUND
LP EXPRESSLY DISCLAIMS ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY
FORWARD-LOOKING INFORMATION, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE
EVENTS OR OTHERWISE, EXCEPT AS REQUIRED BY APPLICABLE LAW.
For further information:
For further information: Nick Cowling, O: (416) 934-8011,
firstname.lastname@example.org; Alexandra Pecoskie, O: (416) 306-6784,