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Client Profile: Peterborough Utilities Inc.

Peterborough Utilities Inc. (PUI) operates electrical generation facilities, and provides rental equipment and metering services to Peterborough area residents. It is a subsidiary of Peterborough Utilities Group (PUG) owned by the Corporation of the City of Peterborough. PUI’s mandate includes  building profitable, renewable generation stations that reduce greenhouse gas emissions.

PUI was one of the first producers of hydroelectric energy in Canada and continues to operate three hydroelectric generation stations. Over the years, its commitment to renewable energy has expanded to include landfill gas and solar energy projects. Including projects currently under construction, PUI owns and operates 36 Megawatts of renewable energy.

Peterborough Utilities - Lily Lake SolarThe Project

The Lily Lake Solar Farm is a 10.0 Megawatt solar photovoltaic (PV) generating facility located on 140 acres of land in the Township of Smith-Ennismore-Lakefield. The $42 million project consists  of  20 blocks of solar panels that generate 500 KWac of energy each.  

Developed in an environmentally responsible manner, the project includes a 30 meter buffer of replanted trees to help protect the Middle Jackson Creek wetlands around the property. PUI also agreed to plant five trees for every tree that was removed to develop the project.

The Solution

Due to the significant costs required for energy projects, PUI realized it needed help to fund the project. The company previously worked with Infrastructure Ontario (IO) to finance the construction of the Robert G. Lake Generating Station, and as a result of the positive experience, decided to ask IO to assist with project financing again.

After investing $10.5 million in existing capital, PUI partnered with Infrastructure Ontario to finance the remainder of the project. IO allowed for the flexibility and affordability PUI was unable to find with traditional lenders. Construction began April 2010 and was completed in late June 2011.

"Infrastructure Ontario was a critical component to the great success of this project.  Their ability to quickly understand and support our business objectives, and the new technology of the project was invaluable."

John Stephenson, President & CEO - Peterborough Utilities Group 

The Result

The Lily Lake Solar Farm is the first solar PV project in Ontario of this scale, developed by a municipal corporation. It produces enough ‘green’ energy to supply approximately 1,500 homes using a stable and clean source. The extra supply of green energy results in reduced demand for electricity on the grid. 

Electricity is sold to the Ontario Power Authority through a 20-year Renewable Energy Standard Offer Program Contract at 42 cents/KWh.

At the peak of construction, the project resulted in approximately 120 local jobs, it also provides ongoing employment during its service and maintenance contracts.

To learn more about our client, please visit their website at www.pui.ca.