|By Marketwired .||
|March 31, 2014 12:34 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/31/14 -- Solar Flow-Through 2012-I Limited Partnership ("Solar Flow-Through") announces that that the company is making its first dividend distribution to unit holders as of today, March 31, 2014. In February 2014, Solar Flow-Through announced its intention to pay distributions of 2% to its unit holders at the end of each calendar quarter. This initial distribution will be an adjusted distribution for the two months (i.e. February 2014 and March 2014) of the three-month period ending March 31, 2014. Subsequently, distributions of 2% are expected to be paid to unit holders at the end of each calendar quarter for the 20-year life of the company's Ontario Power Authority ("OPA") Small Feed-in-Tariff ("Small FIT") Small FIT contracts. Solar Flow-Through may make an additional distribution within sixty days of each calendar year end if Solar Flow-Through has earned net-income over and above 8% per annum.
"This payment represents the first of many dividends and marks a major milestone for Solar Flow-Through," said Matt Wayrynen, president & CEO. "We are very pleased to see our vision for the company being realized. Looking ahead, we anticipate bringing new solar projects online and generating a steady revenue stream for our unit holders."
Solar Flow Through raised $2,857,000 with its final financial closing in December 2012. The proceeds were to be used to secure OPA Small FIT contracts to develop and operate solar projects to produce electricity at a guaranteed rate over twenty years.
The investment objective of Solar Flow-Through is to develop and operate solar power generation projects in the Province of Ontario in a manner that provides for income tax deductions to investors during the start-up, development and construction phases, and steady income upon commencement of commercial operations. Solar Flow-Through has a targeted income distribution to its unit holders of 8% per annum beginning in February 2014, being 13 months after the December 2012 close.
About Solar Flow-Through 2012-I Limited Partnership
Solar Flow-Through, a Canadian-based partnership with offices in Vancouver and Toronto, was formed to develop and operate solar PV power generation projects in the Province of Ontario. For more information, visit www.solarflowthrough.com.
ON BEHALF OF THE BOARD:
Matt Wayrynen, CEO
Solar Flow-Through 2012-I Limited Partnership
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