Chinese solar company Canadian Solar continued its downstream focus by signing the biggest engineering, procurement and construction (EPC) deal in the company's history.
With Chairman and CEO Shawn Qu targeting upwards of 50% of the company's revenue from downstream projects, the solar manufacturer announced the signing of a CA$310 million (US$304 million) contract with Grand Renewable Solar LP to deliver EPC on a 130 MW plant in Ontario.
The project, developed by Samsung Renewable Energy Inc, will feature 440,000 Canadian Solar CS6X modules and is expected to deliver 165,000 MWh per year and create hundreds of green jobs in the province.
The EPC deal was signed by Canadian Solar's downstream subsidiary Canadian Solar Solutions Inc and, with construction set to start in the third quarter, it is expected the plant will be fully operational in 2015.
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