ATS Automation Tooling Systems Inc (TSX: ATS) (‘ATS’) has established a new operating subsidiary, Photowatt Ontario Inc, as part of its plan to lead the Ontario solar energy market. The Canadian technology manufacturer aims to benefit from Ontario’s Green Energy Act, which ATS believes will support growth in the province.
The Green Energy Act was passed into law earlier this year and is being overseen by the Ontario Power Authority (OPA). Under the Act’s feed-in tariff program the OPA aims to provide stable prices under long-term contracts for the sale of renewable energy. Ontario's feed-in tariff or FIT Program is North America's first comprehensive guaranteed pricing structure for renewable electricity production.
"Demand for solar energy is rapidly developing in Ontario”, ATS CEO, Anthony Caputo commented "Photowatt Ontario has a number of project development opportunities in the pipeline, many of which have now been submitted as Feed-In Tariff applications to the Ontario Power Authority."
ATS acquired French based Photowatt group, the photovoltaic (PV) research, development and manufacturing company, the in 1997. ATS has over one million square feet of Ontario-based manufacturing facilities. Photowatt Ontario will be based in the company’s ‘green wing’ at the Fountain Street campus.
The manufacturing group will begin producing solar power modules during the first half of 2010.