Limited Partnerships

Active Funds

2016 LP
The investment objective of the Solar Flow-Through 2016-I Limited Partnership (2016 LP) is to develop and operate solar power generation projects in the Province of Ontario in a manner that provides income tax deductions to investors during the start-up, develop and constructions phases, and steady income upon commencement of commercial operations. Beginning in May 2016, units for the 2016 LP were offered on a private placement basis to accredited investors only. The 2016 LP raised $14,881,000.


2015 LP
The investment objective of the Solar Flow-Through 2015-I Limited Partnership (2015 LP) is to develop and operate solar power generation projects in the Province of Ontario in a manner that provides income tax deductions to investors during the start-up, development and construction phases, and steady income upon commencement of commercial operations. The 2015 LP raised $12,869,000 in July 2015. The 2015 LP has a targeted income distribution of 7% per annum, expected to begin 24 months from closing (July 30, 2017).

Use of Funds
A total of $12,505,075, representing 92.5% of the 2015 Proceeds, was to be incurred on Canadian Renewable and Conservation Expenses (CRCE), with 7.5% being used for LP expenses in 2015. The 2015 LP did a renunciation for CRCE for the $12,505,075 (CRCE Proceeds) prior to 2015 year-end. The CRCE Proceeds have been or will be incurred in the following manner:

  • The continued development of the Feed-in-Tariff (FIT) 3.1 and FIT 4 projects originally funded and secured by prior Solar Flow-Through Limited Partnerships.
  • Securing long term leases and obtaining necessary prerequisites for project sites in order to be submitted under the FIT 4 contract application window in Q4 2015 and under the FIT 5 contract application window in Q4 2016.


2014 LP
The investment objective of the Solar Flow-Through 2014-I Limited Partnership (2014 LP) is to develop and operate solar power generation projects in the Province of Ontario in a manner that provides income tax deductions to investors during the start-up, development and construction phases, and steady income upon commencement of commercial operations. The 2014 LP raised $9,868,000 (2014 Proceeds) in December 2014. The 2014 LP has a targeted income distribution of 2% per quarter, or 8% per annum. Management of the 2014 LP expects income distributions to commence at December 31, 2016 (i.e. 24 months from the closing).

Use of Funds
A total of $9,127,900, representing 92.5% of the 2014 Proceeds, was to be incurred on Canadian Renewable and Conservation Expenses (CRCE). The 2014 LP did a renunciation for CRCE for the $9,127,900 (CRCE Proceeds) prior to 2014 year-end. As of December 31, 2015, 100% of CRCE Proceeds – which were renounced in 2014 – have been incurred in the following manner:

  • The continued development of the Feed-in-Tariff (FIT) 3.1 projects originally secured by the Solar Flow-Through 2012-I Limited Partnership (2012 LP) together with the Solar Flow-Through 2013-I Limited Partnership (2013 LP),
  • Expenses pertaining to four additional FIT 2 projects which the 2014 LP obtained from a third-party developer; and
  • Securing long term leases and obtaining necessary prerequisites for project sites in order to be submitted under the FIT 4 contract application window.

Liquidity Options
Proceeds from the 2013 LP were used to fund a portion of the development of Independent Electricity System Operator (IESO) Feed-in-Tariff 2.1 (FIT 2.1) Contracts to develop solar projects (FIT 2.1 Projects). As distributions commence, unitholders in the 2014 LP can anticipate a steady income stream over 20 years. Alternatively, Management is investigating possible liquidity options for its unitholders if they choose to divest their units.

Management intends to facilitate offerings from third parties to purchase units from existing 2014 LP unitholders in Q4 2016. Longer term liquidity options include the listing of the 2014 LP on a Canadian stock exchange along with the 2012 LP, 2013 LP and/or 2015 LP, and the sale of some or all the assets of the 2014 LP.


2013 LP
The investment objective of the Solar Flow-Through 2013-I Limited Partnership (2013 LP) is to develop and operate solar power generation projects in the Province of Ontario in a manner that provides income tax deductions to investors during the start-up, development and construction phases, and steady income upon commencement of commercial operations. The 2013 LP has a targeted income distribution of 8% per annum. In October 2013, the 2013 LP raised $10,000,000.

The first distribution of 1% was made at March 31, 2016, and the second distribution of 1.25% took place on June 30th, 2016. Management expects distributions to increase quarterly over the next three quarters, as FIT 3.1 projects are constructed and reach commercial operation.

Liquidity Event for Investors
In Q2 of 2016, Management provided unitholders the opportunity to sell some or all of their units. Management intends to facilitate a liquidity event on an annual basis moving forward.


2012 LP
The investment objective of the Solar Flow-Through 2012-I Limited Partnership (2012 LP) 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 of the projects. The 2012 LP has a targeted income distribution of 8% per annum. In December 2012, the 2012 LP raised $2,857,000 (2012 Proceeds).

Liquidity Event for Investors
In Q4 2015, unitholders of the 2012 LP were provided an opportunity to sell their units to secondary buyers. Management intends to facilitate another liquidity event for 2012 LP unitholders in Q4 of 2016, and on an annual basis thereafter. In the longer term, Management will pursue additional liquidity opportunities, including a listing on a Canadian stock exchange, or a sale of some or all the assets of the 2012 LP.

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