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Tuesday, May 08, 2012 11:50:02 AM
The following from the Company press release tells me they have made significant cost reductions. Perhaps reducing employee headcount. I am VERY happy to see!
Record Quarters for Ontario subsidiary
The Company is pleased to report that in quarters two and three of 2011 its Ontario subsidiary, Atlantic Solar Inc. (ASI), processed more CAE solar projects from its pipeline than in any similar prior period since the inception of the OPA FiT Program. ASI had always remained optimistic that more OPA contract offers would be offered at the current tariff rates and is more so given the recent electoral results.
Atlantic CEO, Mr. Gilles Trahan comments: "Atlantic submitted over 11 megawatts of additional CAE solar project applications to the OPA during this short period of time and has prepared another 10 megawatts of applications now ready for submission." Mr. Trahan continued, "Since the restructuring of the organization last May the Company not only increased its processing speed but did so under a significantly reduced cost structure, greatly improving the Corporation's bottom line."Project Update.
Project Update - re: construction
At this point Atlantic has submitted all necessary documentation to the OPA for the 20 contracts it has been offered, has received the Waiver of Notice to Proceed (NTP) on 19 out of 20 projects, and has received Connection Impact Assessment (CIA) approval on 4 of the 20. Construction dates for the initial projects will be announced once NTP is granted.
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