Canadian Solar sells 53.9 MW to BluEarth in Ontario

Canadian Solar sells 53.9 MW to BluEarth

06.06.2013: Canadian renewable energy company BluEarth Renewables has agreed to acquire from Canadian Solar Inc. four utility-scale PV power plants totaling 53.9 MW (DC). The four power plants, collectively valued at over 225 million CAD ($217.2 million), are located in Kawartha Lakes, Belleville, Beaverton and Napanee, Ontario, Canada. Construction on all four projects is expected to commence in 2013, with commercial operation scheduled for 2014. Canadian Solar will provide turnkey EPC services for all four projects. The projects have 20-year contracts with the Ontario Power Authority. The PV power plants being sold to BluEarth are part of Canadian Solar's Ontario project pipeline, which consists of 29 PV projects totaling approximately 400 MW (DC). The company estimates that the resale value of its entire Ontario project pipeline, once built into grid-connected solar power plants and sold to investors, will exceed $1.5 billion CAD. © PHOTON http://www.canadiansolar.com http://phx.corporate-ir.net/phoenix.zhtml?c=196781&p=irol-newsArticle& ID=1827149&highlight=

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com