Canadian Solar has completed the sale of a pair of PV power plants to TransCanada and has agreed to sell another two to BlackRock.
© Andrea Ruggeri / photon-pictures.com | 03.10.2013: Chinese-Canadian solar company Canadian Solar Inc. announced that its subsidiary Canadian Solar Solutions Inc. has agreed to sell two PV power plants in Ontario totaling 20 MW (AC) to a fund managed by US-based investment management firm BlackRock Inc. The value of the transaction is »comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario market,« the company says. The two projects, located in Demorestville and Odessa, Ontario, are scheduled to be commissioned in the fourth quarter of 2013 and the second quarter of 2014, respectively. Canadian Solar is providing turnkey EPC services for the projects and will provide O&M services after completion. Both of the projects will receive FITs for 20 years through Ontario's renewable energy incentive program. Canadian Solar has also completed the sale of two other PV power plants in Ontario to Canadian energy infrastructure company TransCanada Corp. The two power plants, both located in Eastern Ontario, have a combined capacity of 16 MW (AC) and are valued at over $92.2 million. The 9 MW Brockville 2 and the 7 MW Burritts Rapids plants are part of a nine-project portfolio totaling 86 MW (AC) that subsidiary Canadian Solar Solutions has agreed to build and sell to TransCanada for approximately 470 million CAD ($455 million). All nine solar parks will receive incentives under Ontario's FIT program, and all will use Ontario-made Canadian Solar modules. In late June, Canadian Solar sold the 10 MW Brockville 1 PV power plant to TransCanada for about $52.2 million. © PHOTON |
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