League Assets Makes Foray Into Solar Arrays
Jul 14, 2011
(News Release) VICTORIA — Leveraging unique Ontario tax incentives for renewables while making use of its Olympics experience, Victoria's League Assets Corp. — the developer of the Colwood City Centre project — now owns the largest collection of functioning solar arrays in Ontario.
It's all thanks to League Assets' innovative "solar energy limited partnership" investment offering, which takes advantage of unique tax breaks offered by Canada's largest province.
The Ontario Power Authority, through the province's Feed-In-Tarrif (FIT) program, will pay a fixed price per kilowatt-hour of electricity produced over a 20-year period, which will secure a long-term, stable revenue stream for the limited partnership.
This is not League Assets' first venture into green energy systems. In 2009, it funded the installation of "smart" building technologies — including energy-saving and remote monitoring equipment in the Athletes' Village for the 2010 Vancouver Winter Olympics. It recently also financed the installation of similar "smart" technologies in one of its own properties, a shopping centre on Vancouver Island.