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Enter Symbol
or Name
USA
CA



Just Energy Group Inc
Symbol JE
Shares Issued 145,603,433
Close 2015-01-09 C$ 6.07
Market Cap C$ 883,812,838
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Just to sell solar electricity in U.S. with Clean Power

2015-01-12 17:09 ET - News Release

Mr. Patrick McCullough reports

JUST ENERGY ENTERS INTO AGREEMENT WITH CLEAN POWER FINANCE TO ADDRESS THE U.S. RESIDENTIAL SOLAR MARKET

Just Energy Group Inc. has entered into a comprehensive, long-term agreement with Clean Power Finance Inc. to sell residential solar electricity.

This agreement unites Just Energy's strengths in customer acquisition and experience with CPF's solar finance and fulfilment capabilities. CPF's on-line platform allows Just Energy to sell residential solar finance products and connects the company with a national network of qualified solar installation professionals. Just Energy provides CPF's network with a large solar sales pipeline, as well as access to Just Energy's 1.6 million existing residential energy customers.

"This is an exciting event for Just Energy that begins to shape a key component of our future growth strategy," said Deb Merril, co-chief executive officer of Just Energy. "We believe we have secured an ideal solar partner that allows us to enter the solar market with a strategic approach that complements our existing core competencies and maintains our commitment to growing in a less-capital-intensive manner. Our customers will be able to access not only our current energy solutions, but also a long-term, environmentally sustainable solar solution."

Co-chief executive officer James Lewis added: "While our core energy retail business remains healthy and growing, expansion into solar was clearly the next step in maximizing the value proposition Just Energy brings to our growing customer base. Our goal is to offer the best energy solutions possible to homeowners, and the expertise CPF brings to the partnership will allow us to hit the ground running."

Just Energy will act as an originator of residential solar deals that are financed and installed through CPF, according to the terms of the agreement. Just Energy will also be able sell complementary energy management solutions to solar customers. Additionally, the agreement provides Just Energy the option to participate in certain minority portions of project equity, which provides attractive 20-year returns on project assets.

"Just Energy excels at helping millions of homeowners manage their energy needs," said Nat Kreamer, chief executive officer of CPF. "We are excited to work with Just Energy to help millions more do so with solar electricity."

Just Energy and CPF plan to roll out the solar program beginning in the first calendar quarter of 2015 in New York and California, before expanding the offering into key target solar markets across North America.

About Clean Power Finance

Clean Power Finance is a financial services and software provider for the U.S. residential solar industry. CPF's financing platform connects institutional investors with solar sales and installation companies in 11 states. CPF's software, CPF Tools, helps solar professionals in all 50 states design, quote and sell solar deals. Solar professionals use CPF to access a variety of residential solar finance products owned by third parties, including power purchase agreements, leases, Pace products and loans. Investors and lenders use CPF to invest in solar assets that provide reliable rates of return with managed risk. Founded in 2006, CPF has raised more than a billion dollars of project financing from third party solar investors that include major corporations, electric power companies and financial institutions. To learn more about CPF, please visit the Clean Power website.

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