Stan Yankoo
Holland Landing, ON (CAN)
Role(s):
Founder/Owner/Principal
Coboconk Power
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Startup
Location:
Holland Landing
Industry:
Energy
Year Founded:
2006
Number Employees:
1-10 people
Description:
Coboconk Power Corporation takes the energy from the sun to generate electricity. The electricity is sold to the Ontario Power Authority. Coboconk Power Corporation has a legally binding, executed, fixed rate contract with the Ontario Power Authority to purchase all of the electricity produced for twenty years at the same fixed rate of 42 cents per kWh. There is no competition. We cannot lose market share.
The total project cost is $65M. 92% of the project costs are for capital assets. It is anticipated that $43M will be financed with bank debt.