Mondial Energy Inc. News
Mondial Energy installs Ontario's largest roof-top solar heating system
TORONTO, Sept. 12 PRNewswire - Mondial Energy Inc. has installed Ontario's largest, most powerful solar thermal heating system at one of WoodGreen's affordable housing sites on Toronto's Queen St. East. The installation is a partnership between WoodGreen Community Services and Mondial Energy, which builds and owns solar sites on commercial, residential and municipal buildings.
"By providing the capital for the installation, Mondial breaks the up-front cost barrier and by assuming the ongoing maintenance responsibility, we also break the technology risk barrier," said Alex Winch, President, Mondial Energy. "For 100 per cent clean energy, this is both an attractive and an affordable alternative, especially for non-profit organizations that are committed to the environment."
Consisting of 108 glazed flat plate solar collectors, the installation at 1070 Queen St. East will generate 34 per cent of the total annual hot water requirements at the 170-unit building. WoodGreen Community Services will only pay for the solar thermal energy delivered to the building at a fixed 10-year rate. The custom-designed solar thermal energy system will be paid for, owned and operated by Mondial Energy.
"Like many other organizations looking for ways to go green and reduce their impact on the environment, we felt it was important to lead the way in our sector," said Brian Smith, President and CEO, WoodGreen Community Services. "With no upfront capital cost for changing to solar, this installation allows us to use our limited capital resources for other critical services for our clients."
Taylor Munro Energy Systems of Vancouver designed and installed the solar array.
About Mondial Energy Inc.
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Mondial Energy inc. makes renewable energy an accessible, economical alternative to traditional power sources. We finance, install and maintain solar installations at client sites and bill for delivered energy at pre-established rates. Mondial, formed in 2004, is a private company with over 50 shareholders and has signed Power Purchase Agreements and letters of intent in Canada and the United States, with non-profit housing, hotels and casinos.
www.mondial-energy.com About WoodGreen Community Services —————————————————
WoodGreen Community Services takes an integrated, client-centered approach to building a better Toronto. Together, with our many partners, we offer innovative, long-term solutions to the most critical social issues facing our city today. Some of the key areas we focus on include homelessness, poverty, chronic unemployment, childcare, support for seniors and services for new immigrants. WoodGreen Community Services also operates WoodGreen Community Housing, which provides more than 600 individuals and families with affordable housing at six non-profit housing locations in East Toronto.
/NOTE TO PHOTO EDITORS: Photos accompanying this release are available on the CNW Photo Network and archived at http://photos.newswire.ca. Additional archived images are also available on the CNW Photo Archive website at http://photos.newswire.ca. Images are free to accredited members of the media/
SOURCE Mondial Energy Inc.
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