StorageMart Turns Self Storage Into Renewable Solar Energy

StorageMart Turns Self Storage Into Renewable Solar Energy

StorageMart partners with JCM Capital to install 640,000 square feet of solar panels on the roof of self storage properties in the Greater Toronto Area. Energy generated from these solar photovoltaic panels qualify under the FIT Program to contribute to the energy needs of the Ontario Power Authority and Ontario’s electricity system.

StorageMart unveiled today a signed agreement with OZZ Solar / JCM Capital to install 640,000 square feet of solar collectors on the roof tops of Toronto self storage properties. Engineering work is underway and installation should proceed during the first quarter of 2012.

Once installed, the solar panels atop StorageMart Toronto self storage will generate approximately 3 megawatts of power per year. Mike Burnam, Chief Executive Officer at StorageMart looks forward to the solar project stating, “We look forward to the completion of this project which will be one of the largest solar generation projects on self storage in North America.”

Mike Strait, Chief Operating Officer at JCM Capital says that partnerships such as the one with StorageMart, “helps landowners and roof-top owners do something great for the environment on roof space that would have been otherwise unused.”

In 2009, Ontario enabled the feed-in-tariff or FIT Program to be North America’s first comprehensive guaranteed pricing structure for renewable electricity production. The Ontario Power Authority purchases energy generated from renewable sources. Ontario’s FIT Program aims to phase out coal-fired electricity generation by 2014; this is the largest initiative of its kind in Canada.

In addition to self storage property, Mr. Strait suggests that industrial space, commercial buildings, warehouses and manufacturing plants are ideal candidates for solar panel partnerships. Mr. Strait also pointed out that the agricultural industry is a great fit for solar panel installation because farmers can lease out non-arable land that is unsuitable for farming.

About StorageMart:

StorageMart is a self storage provider with more than 130 self storage facilities across Canada and the U.S. The company also operates a moving and packing supply store from each StorageMart location.

The company supports local charities within its communities, including Habitat for Humanity and the Ronald McDonald House, as well as many adoption and foster programs, local animal rescue missions and more. StorageMart funds the “ScholarSmarts” program, which awards ,000 in higher education scholarships annually.

About JCM Capital:

JCM Capital is a boutique investment firm that focuses exclusively on financing in the solar energy industry. Through an international network of industry partners, the company provides a full range of capital across the development spectrum. Past transactions include development loans, acquisitions, take-out equity and long-term debt.

Inquiries to JCM Capital may be made to Mike Strait, COO, at (416) 953-4694.


Posted On: Columbia, MO October 25, 2011

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