Ontario Solar Provider Inc. (OSP) announced that after a successful first round of fundraising, Enlux Solar GmbH & Co. KG was selected as the firm’s major financial backer. The Toronto-based company turned to the German investment and development firm mainly because of the latter’s extensive experience in the solar energy industry. OSP Director of Finance, Christian Wentzel, also mentioned Enlux Solar’s “strong balance sheet” as a factor in the decision. Enlux Solar will have a minority stake in the Ontario company.

Enlux Solar, a Major Player in the Global Green Economy

Enlux Solar is expected to provide not only funds, but also technical and strategic expertise to Ontario Solar Provider. OSP Director of Operations, Sebastian Seyfarth, explained that his company chose to partner with the successful German-based firm “because of its strong track record in solar PV development and technical expertise.” Mr. Seyfarth believes that Enlux Solar will be able to support OSP both financially and operationally.

Wentzel acknowledged Germany as “the world’s leader in solar energy.” He also emphasized the importance of the “knowledge transfer from Germany to Ontario” that will result from the OSP-Enlux Solar partnership. It should be noted that Ontario’s feed-in-tariff (FIT) program was modeled after Germany’s own, which was implemented in 1999. In the years since, Germany’s program has served as a template for other countries around the world to follow.

Ontario Solar Provider, a Symbol of the Solar Energy Revolution

Under its Clean Ontario Initiative, OSP’s main goal is to “lease roof areas, install solar modules, sell power, reduce toxic emissions” - areas in which the company has already excelled in six different countries. Their projects are divided into two phases: the development phase, which includes planning, designing, and permitting, and the construction phase, during which the solar PV technology is installed on the selected roof. While the first phase is mostly handled by engineers, the second phase typically requires specialized workers who have completed solar training classes.

OSP strongly believes that the province has great potential in the green economy market, asserting that over half of its business is sourced from Ontario. Demand for skilled PV panel installers is higher than ever, largely as a result of companies like OSP. David Gower, Associate Director of Ontario Solar Academy explains, “We’re happy to see major deals like OSP’s go through, because they create more opportunities for graduates of our solar training classes.” He adds, “That German investors have taken such an interest in Ontario is indicative of the province’s tremendous growth potential.”