Date:

April 2014

From:

Solar Flow-Through Limited Partnership and Abundant Solar Energy Inc.

Re:

FIT 4 Solar Power Generation Lease Agreement

Abundant Solar Energy Inc. (Abundant), as an agent of the Solar Flow-Through Limited Partnership (SFF) is
pleased to inform you that the Ontario Power Authority (OPA) is going ahead with its Renewable Energy Feed-In
Tariff (FIT) program to encourage and promote greater use of renewable energy sources including solar PV.
The FIT program will be reviewed annually. The prices offered by the government have come down by
approximately 40% in FIT 3.0 as seen in Table 1. With each successful year of the prices offered are expected to
drop, it is important to move quickly to get involved in the upcoming FIT4 window for applications to the OPA.
Table 1. Solar PV FIT Rates

Fuel

Solar Rooftop

Project Size
(kw)
<= 10 kw
> 10 <= 100 kw
>100 <= 250 kw
>250 <= 500 kw

FIT 2.0
Rate
(c/kwh)
54.9
54.8
53.9
53.9

FIT 3.0
Rate
(c/kwh)
39.6
34.5
32.9
32.9

% Change
vs FIT 2.0
-27.9%
-37.0%
-39.0%
-39.0%

Turn Your Rooftop into a 20 Year Revenue Generating Vehicle

As a building owner, you can lease your rooftop or ground to SFF, transforming the passive space into a 20 year
revenue generating vehicle.
This option turns your rooftop or ground space into a stable guaranteed source of revenue. SFF and its municipal
partner, Town of Kapuskasing, will enter into a 20 year lease agreement to install a PV system on your rooftop or
ground. The rent is calculated as $50/kw AC for rooftop and $10/kw AC for ground mount. The price may be
changed for the next FIT review.
Guaranteed Revenue Stream for 20 Years
The example below provide the economic analysis for your reference.
Example system size: 500kw AC
Table 2. Rooftop Lease
Capacity Potential (kW)

500 AC

Annual Rent: $50/kW AC

$ 25,000

Total Revenue (20 year contract)

$ 500,000

Page 1|2

Table 3. Ground Mount Lease

Capacity Potential (kW)

500 AC

Annual Rent: $10/kW AC

$5,000

Total Revenue (20 year contract)

$ 100,000

Under this Lease option, SFF will provide you with a revenue stream over 20 years. There are no cost to you for
the design, installation, operation or maintenance of the solar PV system. Abundant Solar manage all applications
and paper works with the OPA, install the system to meet requirements, and deal with all local authorizes and
permitting.
Enclosed, please find:
A copy of the Solar Generation Lease Agreement
SFF and Abundant brochure
Town of Kapuskasing publication
Please review the Solar Generation Lease Agreement and let us know if you have any questions. Abundant Solar
will appreciate the opportunity to schedule a meeting with you to answer any questions that you may have and to
finalize the details of the Agreement. In the meantime, if you have any questions or concerns, please feel free to
contact our Project Coordinator, Sarah Clarke at 647 963 8040 or by email at
Sarah.Clarke@Abundantsolarenergy.com.
We look forward to working with you on this opportunity. We know you will benefit from the professional
quality control, innovative design and installation experience of the Abundant Solar team.

Kindest Regards,

Tracy Zheng
Director of Business Development
Abundant Solar Energy Inc.
2235 Sheppard Avenue East, Suite 900
Toronto, Ontario M2J 5B5

Page 2|2

F LO W -T H R O U G H F U N D

Your Green Energy Partners

Transforming Ontario properties into green

energy and income-producing assets.
www.solarflowthrough.com

FLOW-THROUGH FUND

Clean, Quiet Energy and a New

Source of Income
Putting Your Rooftop to Work
By renting your business rooftop and other properties to Solar Flow-Through,
youve decided to transform passive space into green energy and incomeproducing assets. This 20-year rental revenue stream not only adds to your
business ROI, it also generates clean, quiet energy for Ontario consumption.
Solar energy is playing a major role in Ontarios long-term plan to develop
more renewable energy. By renting your rooftop to Solar Flow-Through, you
will be a part of that transformation.

No Investment Required
Your lease agreement with Solar Flow-Through requires no investment from
you. We lease your property and use it to generate solar power. We manage all
applications and paperwork with the Ontario Power Authority (OPA). We install
the panels and connect the system to the power grid. We also deal with local
authorities, permitting and land-use regulations.

We Sweat the Details, You Collect the Rent

Once thats done, we sweat the details to get the project built. We take
care of every construction and logistical component to ensure your space
generates the green energy Ontario needsand the rental revenue from us
goes straight to your business. Which means you receive regular revenue
whether the sun shines or not. Guaranteed.

A Long-Term, Committed Tenant

Heres another advantage for you: the 20-year lease and our guaranteed
revenue from the OPA mean you get a long-term, committed tenant that
always pays the rent. No need to look for other tenants, because were not
going anywhere.

Teaming Up With a Leader

By teaming up with the Solar Flow-Through Fund, youre doing business with a
leader in Ontarios green energy revolution. Were well financed, managed by
a team of successful Canadian executives and partnered with Abundant Solar
Energy Inc., a leading Ontario solar developer.

Solar Flow-Through manages every aspect

of solar panel installation on your rooftop.
You simply collect the rental revenue.

Youve made the

first step towards
generating a
guaranteed, 20-year
revenue stream for
your business.

FLOW-THROUGH FUND

Your Long-Term Partners

ABUNDANT
Solar Energy Inc.
F LO W -T H R O U G H F U N D

Motivated Tenants, Steady Business

When you sign on a tenant for 20 years, you want assurances. You need
to know we have the skills, experience and backing to get the job done
right, pay the rent and be there for the long haul.
Solar Flow-Through is managed by a team with decades-long track records
of responsible, senior level business in North America. Its in our best
interest to build good relationships and keep the panels, equipment and
leased property in prime condition; any disruption in our projects ability to
generate electricity at peak efficiency means less revenue to us. Besides,
its just good business.
Heres more about Solar Flow-Through:
1) For us, its all about relationships. Maybe were old school, but
weve built our careers and reputations on long-term, beneficial
relationships. No one wins if we dont build trust and make you happy.
2) Were team players. We work with leading solar developers, suppliers,
engineering and construction companies to build out our solar projects.
3) Were solar power specialists. Canadian-based, with offices in
Vancouver and Toronto, Solar Flow-Through was formed specifically
to invest in the development, engineering, construction, and ongoing
operation of solar projects in Ontario.
4) Were a team of industry experts with decades of experience in
Canadian business, alternative energy and finance.

Abundant Solar:
Our Development Partner
in Ontario
To build a solar project thats going
to go the distance (meaning 20
years plus), you need the industrys
best development, Engineering,
Procurement and Construction (EPC)
support. Thats why weve teamed up
with Abundant Solar Energy Inc. of
Toronto, Ontario for our development
needs.
Abundant Solar provides you with:
A team that has collectively more
than 20 years experience in the
Ontario energy industry
Eight years experience with solar
development
The Ontario markets most highly
experienced solar PV developers
and engineers
Professional, bonded and insured
installers

5) We recently raised $10 million to participate in the OPAs FIT 2 and

FIT 3 programs. So you know we have the backing to pay the rent and
keep the facility in top shape.
6) We know how to navigate the OPA approval process. In 2013 we
were awarded 52 contracts in the FIT 2 program.
7) Using our success from FIT 2, we applied to the OPA for over 150
FIT 3 contracts.
8) We bring good people together. Weve established many
community co-operatives and First Nations partnerships for solar
project development.

The Abundant Solar team has submitted FIT

applications for over 200 solar projects in
Ontario.

FLOW-THROUGH FUND

Meet The Solar Flow-Through Team

EXECUTIVE MANAGEMENT

BOARD OF DIRECTORS

Matt Wayrynen, CEO, COO, Director

Peter Jensen, Chairman

Co-founder of Solar Flow-Through with 30 years experience

in management, venture capital, start-up financing and
mergers and acquisitions. Has provided the senior counsel to
fund Solar Flow-Through and bring together an exceptional
renewable energy-focused team.

Holds a Bachelor of Science and two law degrees from

McGill University. Mr. Jensen began his law practice in 1981,
focusing on the corporate and securities sectors in British
Columbia. Previously conducted diabetes research and
was involved in medical clinic management. Holds wide
range of international legal counselling experience, with
special expertise in trans-border transactions for companies
operating in Asia, Europe, Africa and Latin America.

John C. Kozak, V.P. Business Development

Proven senior executive who excels in corporate finance,
venture capital and strategic planning. Under his direction,
Solar Flow-Through has managed the OPA Application
process and formed crucial alliances and First Nations
groups.

Franklin Wong, Principal

Senior business development executive with over 30 years
experience in the telecommunications and computer
industries. Specialized in business development, alliances,
and mergers and acquisitions in the high tech and
telecommunications industries. Instrumental in establishing
industry and community alliances for Solar Flow-Through.

Marion Fraser, Director

Considered one of the foremost practitioners of sustainable
energy policy and programs in Ontario. With 28 years
experience in the energy sector, she pioneered demand
side management programs at Ontario Hydro. She has also
headed up Enbridge Gas Distributions demand side activities.

Gary Robertson, CFP, Director

FOR INFORMATION, PLEASE CONTACT:

Over 20 years experience as a financial advisor with

extensive experience managing several private businesses
over the past 40 years. He is currently with Dundee
Wealth Management as a Director, Private Client Group
and continues to own and direct several businesses in the
Greater Moncton Area.

Vancouver Office:

Kym Anthony, Director

Matt Wayrynen
Solar Flow-Through Limited Partnership
Suite 900, 570 Granville Street
Vancouver, BC V6C 3P1

Senior banking executive with extensive national and

international experience. Received an M.B.A. from the
University of Western Ontario. Mr. Anthony was the President
and CEO of National Bank Financial, the investment banking
and capital markets unit of National Bank of Canada. Prior to
that, Mr. Anthony was Chair and Chief Executive Officer of
TD Securities and a Vice-chair of TD Bank.

T 604.682.3701
MattW@solarflowthrough.com
Toronto Office:
Franklin Wong or John Kozak
390 Bay Street, Suite 1102
Toronto, Ontario M5H 2Y2
T 647.361.7705
FranklinW@solarflowthrough.com
JohnK@solarflowthrough.com

www.solarflowthrough.com

Steven Marshall, Director

Earned a B.A. in Economics from the University of Windsor
and an Executive Management diploma from Queens
University. Co-founded Hybrid Financial Ltd. and is responsible
for the successful execution of the Companys business plan.
Prior to Hybrid Financial, Mr. Marshall was founder and
CEO of OpenSky Capital, the largest marketer of structured
products in Canada with over $3 billion in assets sold.

SOLAR POWER LEASES WITH THE MUNICIPALITY OF KAPUSKASING

KAPUSKASING: AN ONTARIO MUNICIPAL LEADER IN SOLAR ENERGY DEVELOPMENT
Kapuskasing is an industry leader and early adopter of the Ontario Renewable Energy Program. The
municipality has already completed 31 microfit solar projects within Kapuskasing and is acquiring nine
existing FIT 1 contracts in the Greater Toronto Area. With its equity partners, Kapuskasing has also
applied for 40 Mw of FIT 3 applications throughout Ontario.

Committed to Using Solar Energy to Diversify and Strengthen

Kapuskasings Economy
Kapuskasing is using vacant properties for solar projects to deliver new
sources of revenue to the municipality. These projects will generate
revenue to the town for up to 20 years.
The municipality is committed to using solar energy to diversify and
strengthen the local economy while helping decrease the regions
environmental footprint. The projects also create new jobs and help
build a stronger community.

No Investment Required

Kapuskasing is an industry leader and early adopter of the

Ontario Energy Renewable Energy Program.

There is no investment required from you. We lease your property, and

we manage all applications and paperwork with the Ontario Power
Authority (OPA). We install the panels and connect the system to the
power grid.
We also deal with local authorities, permitting and land-use regulations.
You turn your passive space into a green energy and income-producing
asset, and we generate revenue for Kapuskasing.

A Long-Term, Reliable Tenant

The 20-year lease and guaranteed rate of payment from the OPA mean
you get a long-term, reliable tenant. With Kapuskasing, you can have
confidence that your tenant will pay the rent, keep the site in top
shape and be there for the full 20-year term.

With Kapuskasing, you get a long-term,

committed leasing partner.

Kapuskasing: Model Town Investing in

Solar Opportunities in Ontario
Kapuskasing is known as one of Ontarios most
progressive municipalities for development of
renewable energy. Of 25 solar sites approved by
the OPA in northern Ontario, Kapuskasing was
partnered with nine. The city started by developing
solar projects within its own boundaries, with 31
microfit projects. With the knowledge, contacts
and partnerships gained with these ventures,
Kapuskasing began expanding its focus to build
other solar projects in Ontario.

ENSURING SUCCESS BY PARTNERING WITH THE BEST

To ensure the success of our solar projects, weve teamed up with some of the industrys leaders and
innovators in solar project financing, engineering, procurement and development. These companies
give us access to a broad range of skills, resources and experience.

ABUNDANT
Solar Energy Inc.
FLOW-THROUGH LIMITED PARTNERSHIP

Abundant Solar:
Our Development Partner

Solar Flow-Through Fund:

Our Financing Partner

To build a solar project thats going

to go the distance (meaning 20
years plus), you need the industrys
best development, Engineering,
Procurement and Construction (EPC)
support.

Solar Flow-Through Fund

provides financing under their
very successful flow-through tax
incentive model (based on the
Flow-Through concept for mineral
exploration), along with advisory
services.

Abundant Solar provides us with:

A team that has collectively more
than 20 years experience in the
Ontario energy industry
Eight years experience with solar
development

Solar Flow-Through Fund was

successful in securing interest in
over 50 FIT 2 Contracts and have
submitted applications for over
150 FIT 3 Contracts totalling over
45 MW AC.

The Ontario markets most highly

experienced solar PV developers
and engineers
Professional, bonded and insured
installers

For Information Contact:

Yvan Brousseau, AMCT
CEO Energy Programs
DG Programmes dnergie
88 Riverside Drive
Kapuskasing, Ontario P5N 1B3
Yvan.Brousseau@kapuskasing.ca

www.kapuskasing.ca

The addition of solar energy to our power

generation portfolio is an important step
in strengthening and diversifying our local
economy. Our investments in renewable
energy are creating new jobs and helping
build a stronger community.
Al Spacek, Mayor of Kapuskasing

Solar Flow-Through provides

financing under their very
successful flow-through tax
incentive model.