Canadian Solar and TransCanada enter into 86 MW PV project agreement20. December 2011 | Applications & Installations, Industry & Suppliers | By: Becky Stuart
TransCanada Corporation is set to acquire 86 megawatts (MW) worth of photovoltaics projects from Canadian Solar Solutions Inc. (CSSI) for around CA$470 million.
Under the agreement, TransCanada will receive nine fully operational utility-scale photovoltaic plants from the Canadian Solar subsidiary. Located across Ontario, the systems are scheduled to be online between late next year and mid-2013, and will receive a tariff under the province’s feed-in tariff program.
CSSI will provide turnkey engineering, procurement and construction services, in addition to supplying the major components and securing construction finance. All the photovoltaic modules will be manufactured at its parent facility in Guelph, in compliance with the local domestic content requirements.
"This agreement with TransCanada is a true achievement for the solar industry in Canada, and an important milestone for Canadian Solar as we continue to expand our total solutions business to promote the expansion of solar power worldwide," commented Shawn Qu, chairman and chief executive officer of Canadian Solar.
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