A REIT carries on its activities through a subsidiary LP. LP will participate in the Feed-in Tariff Program offered by the Ontario Power Authority pursuant to which it will install solar photovoltaic systems on its properties and sell the electricity generated at a guaranteed price per kWh. The total amount of electricity produced will not exceed the total level of electricity that will be consumed across all of the Ontario properties.
Ruling that the solar photovoltaic systems are property described in s. (b)(ii) of the definition of "real or immovable property".