Canadian Solar enters UK solar market with 46 MW acquisition


Canadian Solar, one of the world’s leading module manufacturers, has announced today it has acquired 46 MW of solar PV projects in its inaugural expansion into the growing U.K. solar market.

The Guelph, Ontario-headquartered solar company has acquired six power projects in total, four of which are currently under construction and will bring 40.5 MW to the U.K. grid once connected next month.

A further two solar projects with a combined capacity of 5.5 MW are scheduled to commence construction by the end of February, with connection due in the second quarter of this year.

"We are delighted to enter the U.K. solar energy market with the acquisition of this portfolio of projects," said Canadian Solar CEO and Chairman Shawn Qu.

"The U.K. is an important and rapidly growing solar market and these transactions provide us with an attractive opportunity to leverage our expertise and balance sheet to redeploy capital to support our growth and create value for our shareholders."

Qu added that the company will continue to evaluate "several opportunities" in the U.K., hinting that Canadian Solar will make further similar announcements in the coming weeks.

Many observers had feared that the U.K.’s soaring solar sector of 2014 could be severely diminished come April 1 when the current Renewable Obligation (RO) scheme for large-scale solar plants is replaced by the less-attractive Contracts for Difference (CfD) program.

However, the industry has been gaining confidence in recent weeks that the solar market in the U.K. is robust and mature enough to thrive without RO subsidies, with a growing emergence of sub-5 MW PV plants, added support for the commercial rooftop sector, and a steady rise in the number of residential rooftop installations and community-backed schemes.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.