“Solar Power Network received 31MW (108 sites) out of the total 332 sites (99MW) offered in the extended FIT3 procurement round. This represents 50% of rooftop solar projects awarded by the IESO in this FIT round.”
The IESO will open the FIT5 application window prior to November 1st 2016 with a capacity offering of approximately 150MW. In addition to the 150MW, the FIT5 procurement target will also include contract capacity that has become available from contract terminations under prior FIT procurement rounds. The final MW procurement capacity will be calculated and published by the IESO by December 31, 2016. SPN intends to continue to support our partners and to apply in this coming round with any outstanding leases that can be supported by the new IESO rate (rate to be announced by September 1, 2016).
With 34 sites (12MW) built and connected under FIT1, 17 sites (4MW) awarded under FIT3 in July 2014, 108 sites (31MW) under the Extended FIT3 awarded in December 2014, and the Minister of Energy’s roadmap – FIT4 2015 200MW, FIT5 2016 150MW and FIT6 2017 150MW – SPN’s confidence in it’s Ontario business has never been stronger.
The IESO will conduct a price review to determine the 2016 FIT and microFIT pricing structure, and will announce the resulting FIT5 rate by September 1, 2016.
Priority Points and Capacity Set-Asides
The FIT5 ruleset has not been published by the IESO. We are expecting that, similar to previous FIT rounds, contracts will be awarded in several partitioned categories in which only applicants with appropriate partnerships—aboriginal, co-operative, municipal—are eligible. SPN has engaged partners in each of these categories and forged business relationships in each group, increasing the opportunity to be awarded contracts.
Typically, contracts for successful FIT applicants are issued 4-6 months after the application window closes.